Purpose – This paper seeks to apply the relational exchange framework, updated by insights on interimistic relationships, to analyze governance implications for the three types of e‐marketplaces currently in operation: independent exchanges, consortia, and private exchanges. These three...

Practitioners often are confused by theories that offer ambiguous prescriptions for designing the institutional forms or governance structures in which business activities are conducted. Unclear prescriptions for organizing tasks within the main governance alternatives leave key design decisions...