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An Extended Service-Oriented Architecture for Consumer-Centric E-Commerce

This paper investigates the trust aspects propounded by the three Economic Theories, Transaction Cost Economics (TCE), Information Economics (INE), and Socio-Economics (SOE), and justifies their embedding in a serviceoriented architecture (SOA) for consumercentric e-commerce. The embedded trustworthiness features are consistent with the Economic Theories, and most importantly the services during their publication, discovery, and execution are bound by trustworthiness assertions. This approach provides a sound basis for asserting that services in the extended SOA model are trustworthy. The proponents of the economic theories, after a scientific study of the relationship between buyers and sellers, conclude that trust adds economic value. Both value and trust become a shared virtue of partners engaged in e-business transactions. This motivates us to place the consumer centrally in the value enhancement process of the service provider, thus making the e-service architecture consumer-centric. We give a detailed description of the service model and the architectural elements, explain service provision and service composition features within this architectural framework.