References of "Hartwich, Eduard 50046634"
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See detailMachine economies
Hartwich, Eduard UL; Rieger, Alexander; Sedlmeir, Johannes UL et al

in Electronic Markets (2023), 33(1), 36

This fundamentals article discusses efficient machine economies in which non-human agents can autonomously exchange information and value. We first identify criteria for achieving Pareto efficiency in ... [more ▼]

This fundamentals article discusses efficient machine economies in which non-human agents can autonomously exchange information and value. We first identify criteria for achieving Pareto efficiency in such economies by drawing on the Coase Theorem. We then translate these economic criteria to technical requirements before developing a framework that characterizes four types of machine economies. We discuss real-life examples for each type to highlight key challenges in achieving Pareto efficiency. In particular, we highlight that machine economies with human involvement in economic interactions and governance face significant challenges regarding perfect information, rationality, and transaction costs. Machine economies without human involvement, in turn, promise a high degree of Pareto efficiency, but there are still many open questions, particularly regarding machine-enforced governance. We conclude with opportunities for future research on the interactions and governance in machine economies. [less ▲]

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See detailProbably something: a multi-layer taxonomy of non-fungible tokens
Hartwich, Eduard UL; Ollig, Philipp; Fridgen, Gilbert UL et al

in Internet Research: Electronic Networking Applications and Policy (2023)

Purpose This paper aims to establish a fundamental and comprehensive understanding of non-fungible tokens (NFTs) by identifying and structuring common characteristics within a taxonomy. NFTs are hyped and ... [more ▼]

Purpose This paper aims to establish a fundamental and comprehensive understanding of non-fungible tokens (NFTs) by identifying and structuring common characteristics within a taxonomy. NFTs are hyped and increasingly marketed as essential building blocks of the Metaverse. However, the dynamic evolution of the NFT space has posed challenges for those seeking to develop a deep and comprehensive understanding of NFTs, their features and their capabilities. Design/methodology/approach Utilizing common guidelines for the creation of taxonomies, the authors developed (over 3 iterations), a multi-layer taxonomy based on workshops and interviews with 11 academic and 15 industry experts. Through an evaluation of 25 NFTs, the authors demonstrate the usefulness of the taxonomy. Findings The taxonomy has 4 layers, 14 dimensions and 42 characteristics, which describe NFTs in terms of reference object, token properties, token distribution and realizable value. Originality/value The authors' framework is the first to systematically cover the emerging NFT phenomenon. This framework is concise yet extendible and presents many avenues for future research in a plethora of disciplines. The characteristics identified in the authors' taxonomy are useful for NFT- and Metaverse-related research in finance, marketing, law and information systems. Additionally, the taxonomy can serve as an information source for policymakers as they consider NFT regulation. [less ▲]

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See detailArtificial Intelligence as a Call for Retail Banking : Applying Digital Options Thinking to Artificial Intelligence Adoption
Fridgen, Gilbert UL; Hartwich, Eduard UL; Rägo, Vadim et al

in Proceedings of the Thirtieth European Conference on Information Systems (ECIS 2022), Timisoara, Romania: Artificial Intelligence as a Call for Retail Banking : Applying Digital Options Thinking to Artificial Intelligence Adoption (2022)

Technology-driven challenges, both existing and emerging, require banks to invest in IT capabilities, especially in artificial intelligence (AI). Digital options theory presents a valuable guide rail for ... [more ▼]

Technology-driven challenges, both existing and emerging, require banks to invest in IT capabilities, especially in artificial intelligence (AI). Digital options theory presents a valuable guide rail for these investments. However, the nature of AI as a moving frontier of computing requires certain extensions to established digital option thinking. Based on interviews with 23 experts in the retail banking industry, we highlight the importance of thinking broadly when laying the foundation for AI options and being mindful of the dynamic effects of contextual factors. Drawing from digital options theory and the Technology-Organization-Environment framework as dual lens, our study adds a structured approach to consciously balance resources and AI-related capability investments with a broader consideration of the banking industry’s complex environment. In this way, our study complements recent research on the interplay between incumbents’ resources and digital opportunities. [less ▲]

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