Dynamic service aggregation in electronic marketplaces

Electronic marketplaces represent a significant example for the evolution of the Internet from technical infrastructure to business enabler. Built on top of open standards like XML and value-added, services like catalogue, negotiation, and transaction management, electronic marketplaces are the new hubs for business interaction. In first-generation electronic marketplaces service providers post information about their products, and service consumers post information about their needs. The matching is based on a market-dependent ontology, and standardised negotiation processes are supported by market mechanisms like auctions and exchanges. The final result is a one-to-one business relationship managed directly by the parties, outside the boundaries of the electronic marketplace. For second-generation electronic marketplaces the focus shifts to complete solutions. The capability to aggregate multiple services in order to match a specific service request should be provided as an internal service from electronic marketplaces. As an alternative, the electronic marketplaces should at least enable specific service providers to sustain effectively aggregation-oriented business models. After an overview of electronic marketplaces, we introduce the concept of e-services as electronic virtualisation of standard business services. We then present DySCo (Dynamic Service Composer), which includes a model and a reference infrastructure for e-service management and composition. Based oil DySCo. a prototype has been developed for dynamic service aggregation through negotiation in multiple marketplaces. The prototype is presented, and the implications of the underlying business model are discussed. (C) 2001 Elsevier Science B.V. All rights reserved.