The Comparative Institutional Analysis On The Formation Of New-Type Specialized Market Induced By Electronic Commerce

Along with the rapid development of modern logistics and information technology, the e-commerce is causing innovation and changes of the traditional specialized market in the respect of institutional arrangements and organizational structure, and so on. This paper tries to use comparative institutional analysis theory and method to discuss a conceptual framework of institutional analysis to explore the growing mechanism and path of the new-type specialized market induced by electronic commerce, in order to provide further theoretical explanation of the problem of institutional generation and the endogenous of system evolution of the new-type specialized market’s formation that evolves from traditional specialized market.Firstly, this paper describes the meaning and main characteristics of new-type specialized market based on electronic commerce, and probe the growing mechanism and formative logic of new-type specialized market induced by electronic commerce. Based on the theoretical thinking of comparative institutional analysis, this article believes that the new-type specialized market’s growth process induced by electronic commerce is also market entity’s adaptive evolution process under the joint action of variation mechanism, selection mechanism, learning mechanism, and the mechanism of self-organization and hetero-organization. The formation of new-type specialized market is endogenous from the system level, and it is also affected by their environment, such as historical factors, the institutional environment, statute law, public policy and other factors. Secondly, this paper probes the path mechanism of new-type specialized market’s growth induced by electronic commerce, it holds that the formation of new-type specialized market is a dynamic evolution game process with an organic interaction by multiple and multilevel system, and it has obvious characteristics of period. Then, this paper builds the evolutionary game model about how the new specialized market forms, it comes to an evolutionarily stable strategies that traditional specialized market’s transition to the new-type specialized market.Subsequently, the next part of the paper tentatively discusses a conceptual framework of subjective game model, to help us understand the mechanism of how the market participants explore the new way of game in a complex environment induced by electronic commerce. It reveals that when the knowing or symbol summary representation of "new-type specialized market" served as an institutional arrangement triggers market participants’ belief system to convergence each other, the new-type specialized market based on electronic commerce will eventually reach a stable equilibrium strategy. The next part of the paper makes a survey on present situation and historical evolution of the e-commerce development of "China Commodity City" and "Plastic City of China". Combined with the previous model discussed, this part discusses the game mechanism of the two markets in constructing new-type specialized market based on electronic commerce, and then makes a comparative analysis between them. The last part of the paper puts forward the corresponsive policy proposals. It suggests that market managers and government departments concerned should attach importance to the balance of interests and constraint conditions in the process of marginal effect’s reconstruction to each economic subject in different stages, and strengthen the combination between top-level design of the system and activeness of market participations in the process of construction of the new-type specialized market, then construct modern business system of value co-creative according to local conditions.