Abstract
This paper takes a critical look at electronic markets. Through an examination of Hong Kond's air cargo industry, where an electronic network recently has begun its operation, we argue that none of the key industry stakeholders stand to gain from an electronic market. Instead we found that the existing electronic network has limited its service to carefully preserve the distribution of power among the stakeholders, it has done so to be successful and to attract a critical mass of users. The network now has a de-facto monopoly in hong Kong's air cargo community. The monopoly and the strakeholders will seek to block any attempt to establish an electronic market in the future.
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