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This paper studies an equity market of stochastic dimension, where the number of assets fluctuates over time. In such a market, we develop the fundamental theorem of asset pricing, which provides the equivalence of the following statements: (i) there exists a supermartingale numéraire portfolio; (ii) each dissected market, which is of a fixed dimension between dimensional jumps, has locally finite growth; (iii) there is no arbitrage of the first kind; (iv) there exists a local martingale deflator; (v) the market is viable. We also present the optional decomposition theorem, which characterizes a given nonnegative process as the wealth process of some investment‐consumption strategy. Furthermore, similar results still hold in an open market embedded in the entire market of stochastic dimension, where investors can only invest in a fixed number of large capitalization stocks. These results are developed in an equity market model where the price process is given by a piecewise continuous semimartingale of stochastic dimension. Without the continuity assumption on the price process, we present similar results but without explicit characterization of the numéraire portfolio. [ABSTRACT FROM AUTHOR]

The microbiological quality of dairy products from small-scale producers in Serbia was analysed. A total of 302 dairy products [raw (n = 111) and pasteurized milk cheeses (n = 79) and kajmak (n = 112)], were collected and tested for the presence of pathogens, Listeria monocytogenes and Salmonella spp., and enumerated for Coagulase-positive staphylococci (CPS), Escherichia coli, and yeasts and moulds. None of the samples tested positive for Salmonella spp., while L. monocytogenes was recovered from one raw milk cheese and five kajmak samples. Raw milk cheese and kajmak also had higher levels of indicator microorganisms, namely E. coli and yeast and moulds. Molecular serotyping grouped L. monocytogenes isolates into serogroups 1 (1/2a and 3a) and 3 (1/2b, 3b, and 7). When exposed to eight antibiotics, L. monocytogenes isolates were mostly sensitive, with the exception of oxacillin and reduced susceptibility to clindamycin, penicillin G, and trimethoprim/sulfamethoxazole, emphasizing the importance of continuous surveillance for antimicrobial resistance. Samples that tested positive for Listeria spp. also had higher loads of indicator microorganisms, namely E. coli and yeast and moulds, suggesting lapses in hygiene practices during production. Collectively, these data emphasize the need for improved food safety and hygiene practices among small-scale dairy producers. This is crucial to reduce the microbial contamination and improve both the quality and safety of dairy products in the Serbian market. [ABSTRACT FROM AUTHOR]

Economic reforms such as the liberalization of export and processing-linked marketing channels have encouraged farmers to produce more. Unfortunately, cotton production in Zimbabwe has been declining regardless of such interventions. Why is the production declining despite these interventions including the government-free inputs and supported extension services? Cotton marketing is one of the main factors that influence overall quantities of a commodity to be produced but the practices and behavior of farmers are relatively unknown and unpredictable in the cotton markets. Therefore, this study was to explore factors influencing smallholder farmers' cotton marketing decisions in three cotton-producing provinces of Zimbabwe. A representative sample of 1080 cotton farmers were randomly selected from these provinces and a double hurdle model was used to evaluate market participation and intensity guided by probit model and censored tobit model respectively. Results showed that the decision to participate in cotton marketing was exclusively influenced by experience in cotton production while the intensity of cotton marketing was exclusively influenced by household labour and access to information. Market prices did not significantly (P<0.05) influence both the participation and intensity of cotton markets. The source of inputs and affiliation to marketing associations influence both marketing decisions. It is recommended that the government of Zimbabwe should revise the existing cotton marketing policies to encourage many buyers into cotton markets. The establishment of cotton marketing hubs can increase cotton marketing participation and intensity through increased access to decentralised marketing options. [ABSTRACT FROM AUTHOR]

The microbiological quality of dairy products from small-scale producers in Serbia was analysed. A total of 302 dairy products [raw (n = 111) and pasteurized milk cheeses (n = 79) and kajmak (n = 112)], were collected and tested for the presence of pathogens, Listeria monocytogenes and Salmonella spp., and enumerated for Coagulase-positive staphylococci (CPS), Escherichia coli, and yeasts and moulds. None of the samples tested positive for Salmonella spp., while L. monocytogenes was recovered from one raw milk cheese and five kajmak samples. Raw milk cheese and kajmak also had higher levels of indicator microorganisms, namely E. coli and yeast and moulds. Molecular serotyping grouped L. monocytogenes isolates into serogroups 1 (1/2a and 3a) and 3 (1/2b, 3b, and 7). When exposed to eight antibiotics, L. monocytogenes isolates were mostly sensitive, with the exception of oxacillin and reduced susceptibility to clindamycin, penicillin G, and trimethoprim/sulfamethoxazole, emphasizing the importance of continuous surveillance for antimicrobial resistance. Samples that tested positive for Listeria spp. also had higher loads of indicator microorganisms, namely E. coli and yeast and moulds, suggesting lapses in hygiene practices during production. Collectively, these data emphasize the need for improved food safety and hygiene practices among small-scale dairy producers. This is crucial to reduce the microbial contamination and improve both the quality and safety of dairy products in the Serbian market.

Copyright of Revista de Ciencias is the property of Universidad del Valle and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

For improved and sustained growth, world economies are now moving towards innovation systems. However, the impact of these innovation systems on economies within the economic paradigm is still unknown. This study aims to investigate how innovation systems in various economies influence E-commerce capacity. However, various policymakers plan to design and implement policies that meet the changing dynamics of innovation systems. However, the fact that these policies have an impact on E-commerce is mostly not taken into consideration. This study further aims to understand whether policymakers should consider the enabling side effects and the impact assessment derived from innovation systems when they design E-commerce policies? By utilizing quantitative analysis, the study evaluates the innovation enabling factors for E-commerce advancement. The innovation system factors, institutions, human capital, infrastructure, market sophistication, knowledge, and creative outputs construct the set of independent variables that evaluated against the dependent variable that is E-commerce capacity. Through structural equation modeling and confirmatory factor analysis of the Global Innovation Index data, the study concludes that human capital and market sophistication are significant enabling factors to E-commerce when innovation system policies are applied. In addition, infrastructure and information communication technology are essential factors in advancing E-commerce capacity. This work recommends that policymakers should assess the impact of existing innovation policies related to human capital, empowerment, and market sophistication on E-commerce capacity. [ABSTRACT FROM AUTHOR]

An open market is a subset of a larger equity market, composed of a certain fixed number of top‐capitalization stocks. Though the number of stocks in the open market is fixed, their composition changes over time, as each company's rank by market capitalization fluctuates. When one is allowed to invest also in a money market, an open market resembles the entire "closed" equity market in the sense that the market viability (lack of arbitrage) is equivalent to the existence of a numéraire portfolio (which cannot be outperformed). When access to the money market is prohibited, the class of portfolios shrinks significantly in open markets; in such a setting, we discuss the Capital Asset Pricing Model, how to construct functionally generated portfolios, and the concept of universal portfolio. [ABSTRACT FROM AUTHOR]

Introduction: Staphylococcus aureus is responsible for a variety of infections in humans and animals that can pose a major public health burden in many countries, including Ethiopia. Objectives: This study was aimed to isolate Staphylococcus aureus present on the shell surfaces and in the contents of chicken eggs, and determine antibiotic susceptibility patterns. Material and Methods: One hundred seventy-four (174) egg samples were obtained from open market and 161 from poultry farm. The surfaces of eggs were sampled using a sterile cotton swab. After sterilizing the shells, the egg contents were sampled. Identification of Staphylococcus aureus was done based on culture characteristics, and biochemical tests. The isolates were subjected to antibiotic susceptibility testing using disc diffusion method. Results: A total of 93 (27.8%) Staphylococcus aureus samples were isolated. From these, 28 (17.4%) were from Haramaya University poultry farm while 65 (37.4%) were from market. In addition, 63 (18.8%) were from the shell while 30 (8.9%) were from the egg content. The occurrence of Staphylococcus aureus in the egg shell from open markets was significantly higher than the content from the egg shells obtained from farms (P = 0.021). The level of Staphylococcus aureus content was also significantly higher in the market (P = 0.003). All 76 Staphylococcus aureus isolates were resistant to at least one of the antimicrobials tested with the overall value 3.9-92.0% level of resistance pattern showing higher resistant to penicillin (92%) and ampicillin (89.5%). A lower level of resistance was observed to chloramphenicol, gentamycin and ciprofloxacin with complete susceptibility to vancomycin. Multiple drug resistance was detected in 86.8% of the Staphylococcus aureus isolates. Conclusion: The study showed a significant level of Staphylococcus aureus with considerable antibiotic resistant pattern. Further studies are needed to better define bacterial resistance to antibiotic agents with emphasis on surveillance of multiple drug resistance. [ABSTRACT FROM AUTHOR]

Family farming plays a key role in the generation of income and supplying urban centres with fresh food. However, the knowledge about the profile of family farmers, especially in the Northeast of Brazil is scarce. In light of this, this paper analyzes the regional influence of the Guanambi (BA) municipal marketplace, formed mostly by family farmers. The analyzes were based on data from field research with family farmers and consumers at the free market in Guanambi (BA), in addition to on-site observations. Among the results, it was identified that the Guanambi marketplace contributes to regional development since most rural properties are located within 100 km of the Guanambi. Most family farmers are unaware of production and transportation costs, confirming the precariousness of the management and control of costs on family farms. Regarding consumers, the quality of products and the price of goods attract consumers up to 19 km from Guanambi. However, the lack of intercity transport is observed in the transportation mode used by producers and consumers. The results make evident the importance of improving public policies with the inclusion of financial management programs and transportation cost calculations for the consolidation of family farming in the regional context. [ABSTRACT FROM AUTHOR]

Salmonella species is one of the most significant food-related pathogens of public health concern, whose leading vehicles of transmission to humans are chicken products. Hence, this study investigated the occurrence of Salmonella in chicken meat in correlation to their retailing equipment/environments of open markets located in Warri, Benin City, Akure and Ado-Ekiti metropolis (Southern Nigeria). A total of 680 samples comprising raw chicken carcass (n = 240 muscle tissues), rinsing water (n = 60), hovering houseflies (n = 200) and swabs from retailing table (n = 60), cutting knives (n = 60) and meat storage containers (n = 60) were collected and analysed using standard techniques. Salmonella was recovered in 105 samples, presenting a prevalence rate of 15.4% (105/680). Rinsing water (40.0%) had the highest rate, followed by chicken carcass and retailing table (16.7%), storage containers (18.3%), hovering flies (9.0%), and then cutting knives (3.3%). The prevalence of Salmonella was highest in Benin City samples (24.7%; P

In Mexico, the production of guava (Psidium guajava L.) is very representative, since year after year, it is among the first 10 fruits harvested with higher yields. From 2008, fresh guava began to be sent to the United States of America, aimed at the nostalgia market, complying with the tariff and phytosanitary requirements for the crossing to this country, as one of these requirements is that the cargo is irradiated, which is the elimination of bacteria and pathogens harmful to health. The present work, shows the methodology and procedures before an open market essential for the competitive strategy and the generation of income that improves the planning of the distribution of fresh guava in all the federal entities of Mexico both producing and consuming United States of America; through the formulation in linear programming of a distribution optimization model for this fruit, which minimizes transport costs where it identifies potential consumption centers and recommends that quantities should be supplied to said market, to maintain the balance between the supply and demand of fresh guava, in order to make the products and services available to customers at the time and place, in the desired conditions and forms, in the most cost-effective manner refer. [ABSTRACT FROM AUTHOR]

Salmonella species is one of the most significant food-related pathogens of public health concern, whose leading vehicles of transmission to humans are chicken products. Hence, this study investigated the occurrence of Salmonella in chicken meat in correlation to their retailing equipment/environments of open markets located in Warri, Benin City, Akure and Ado-Ekiti metropolis (Southern Nigeria).  A total of 680 samples comprising raw chicken carcass (n = 240 muscle tissues), rinsing water (n = 60), hovering houseflies (n = 200) and swabs from retailing table (n = 60), cutting knives (n = 60) and meat storage containers (n = 60) were collected and analysed using standard techniques. Salmonella was recovered in 105 samples, presenting a prevalence rate of 15.4% (105/680). Rinsing water (40.0%) had the highest rate, followed by chicken carcass and retailing table (16.7%), storage containers (18.3%), hovering flies (9.0%), and then cutting knives (3.3%). The prevalence of Salmonella was highest in Benin City samples (24.7%; P<0.05), followed by Warri samples (15.9%), Ado-Ekiti (11.9%) and Akure (9.4%) being the least. The mean Salmonella counts (CFU/mL) per sample revealed that Benin City (0.09 × 10² - 5.49 × 106) yielded the highest Salmonella load, followed by Warri (0.00 - 6.11 × 105), Ado-Ekiti (0.00 - 5.49 × 104) and Akure (0.00 - 3.02 × 104). These findings suggest that the occurrence of Salmonella in commercial chicken meat is still high in most of the study locations and the rinsing water, tables and storage containers could be potential transmission routes. Adequate thermal treatment measures are recommended before consummation of commercial chicken meat within the regions. [ABSTRACT FROM AUTHOR]

Abstract Salmonella is considered one of the most important foodborne pathogens and is commonly associated with the consumption of pork and other animal products. Multidrug resistant (MDR) Salmonella strains are highly adaptive and have been responsible for foodborne disease outbreaks. We investigated Salmonella prevalence and antimicrobial resistance in pork obtained from open markets in Xuzhou, Jiangsu Province, China. From October 2016 to September 2017, a total of 155 Salmonella isolates were recovered from 324 pork samples in different open markets, representing 35.5% of the samples tested. All of the Salmonella isolates were characterized using serotyping, antimicrobial resistance detection, and multilocus sequence typing (MLST). Thirteen serotypes were identified among the 155 Salmonella enterica isolates. S. Derby (28.7%) was the most prevalent serotype, but others, such as S. Enteritidis (18.3%), S. Meleagridis (15.7%), and S. Typhimurium (13.0%), were also widespread. MLST analysis showed that 14 sequence type (ST) patterns were identified and ST40 occupied an absolute superiority among these isolates. Tests of susceptibility to 16 antimicrobial agents using a disk diffusion assay showed that 97.4% of the isolates were resistant to at least one compound, and 66.1% exhibited multidrug resistance, as they were resistant to at least four antimicrobials. The presence of most of the antimicrobial resistance genes was consistent with the resistance phenotypes. Of the antimicrobial resistance genes examined in this study, parC , gyrA , aadA1 , sul1 , floR, and tet A were the most prevalent resistance genes in the MDR isolates. Our findings show the prevalence of Salmonella in pork in the open markets of Xuzhou, China. Additionally, many Salmonella isolates were resistant to multiple antimicrobial agents, which may aid the optimization of hazard analysis in pork sold in open markets. Highlights • Salmonella contamination in pork was investigated at open markets. • The surveillance was lasted one year, from October 2016 to September 2017. • MLST analysis was used to identify sequence type patterns of Salmonella isolates. • Salmonella isolates from pork in open markets showed multidrug resistance phenotype. • The mechanisms of multidrug resistance are highly complex. [ABSTRACT FROM AUTHOR]

Copyright of Electronic Turkish Studies is the property of Electronic Turkish Studies and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Based on ethnographic and botanical sources as well as observations between 2012 and 2015, we have data about the sale of 130 species of wild plants in the markets of Hungary's fifth largest city. Most species, 98 of them, were sold as bouquets or wreaths, as ornamental plants. Sources reported sales of 67 wildflowers in the past, while between 2012-2015 they offered a total of 57 species in ornamental bouquets at the market but only 23 of the species sold in the past were among them. The main reason for changes in the wildflower species is that several species have become protected and hence their sale prohibited. Based on the available data, only 30 species of herbs and edible plants gathered in the wild were sold - 10 species as wild vegetables, 6 species as flowers, and 18 species as fruits. Today, of the edible wild species, mostly wild fruits and wild onions are available on a regular basis. Because the sale of medicinal plants became regulated very early on, their sale in the markets is not common, available mostly through wholesalers and already processed. Even today it is mostly edible herbs that are available in the market. During the 4 years of observation, they also sold 38 mushroom species in the markets of Pécs as forest products. [ABSTRACT FROM AUTHOR]

From an economical point of view, Albrecht Dürer was one of the most successful artists of his time. However, there was never a single market or price system for Dürer’s works, be it during his lifetime or posthumously. While the artist was alive, pricing his works was not governed by a standard set of more or less ‘objective’ or quantifiable criteria. Instead, each price was a matter of negotiation. The main differences were between the ‘open’ market – mostly covering printed goods and smaller paintings - and the market for commissioned goods - mostly covering larger paintings and portraits. In addition, buyers were either active in the ‘princely’ market for persons of elevated social rank, or in the ‘urban’ market for wealthy patricians. The buyer’s social rank could significantly influence price levels. Both groups of buyers were involved in two other types of markets, tentatively designated as ‘formal market’ and ‘informal’ or ‘gift market’.

This study seeks to highlight the population policy adopted by the British colonial rule when the Straits Settlements for the period 1826 until the Second World War. Economic interest, especially after the industrial revolution in Europe in the 18th century has made the population as the heart of an economy based on capitalist economic system. Local people, especially the Malays viewed less potential to become the capital of the capitalist economic system. Thus the liberal population policy has led to economic progress in the Straits Settlements and also change the demographics of the population in the Straits Settlements. Through this research is working to highlight that the business establishment for planning the plural society has already taken place through the basics of politics and economics by British Colonial. Thus British colonial domination of the British-Malaya environment has brought a new treasure of cultural acceptance of the new British-Malaya and commenced in the administrative area of the Straits Settlements established in 1826. Through this study we hope that the establishment of a pluralistic society in Malaya (Malaysia) can actually be attributed to the economic philosophy that flourished in Europe for man is the energy industry, particularly in the capital market-based open (free-market). Hence the importance of resources to meet the needs of the market has brought changes to the geographic population in the community in the Malay Archipelago which does not adopt the philosophy of an economy based on large-scale output to meet demand, especially raw materials. [ABSTRACT FROM AUTHOR]

This study focuses on finding ways to stimulate the growth of agricultural sectors in m-businesses, by analyzing and comparing the factors that influence the purchasing behavior of consumers in the open market, social commerce, and integrated shopping malls. Consumers at various mobile shopping malls answered a survey. Among the nine factors considered, one important factor was the frequency of purchasing agrifoods. Regression analysis produced three results. First, in the open market, in addition to various other advantages, the brand image, reasonable pricing, simple payment system, and convenience of using an app were important factors that influenced the purchasing behavior of the individual consumer. Second, in social commerce, the major factors influencing purchase were the reasonable pricing, quick delivery service, and convenience of using an app. Third, in integrated shopping malls, the brand image, guaranteed after-sale service, the variety of products, quick delivery service, and convenience of using an app were the significant factors. [ABSTRACT FROM AUTHOR]

Open markets are important spaces of socialization and cultural manifestation. They present different functions in the life of the contemporary societies, as it offers products and services, for example. The present text focuses the Abaetetuba/Pará ("the edge") market concerning the aspects of the sociability, culture and biodiversity, and the way these factors infl uence the daily life of the local actors. The participant observation and the accomplishment of interviews and informal colloquies were the main methods of collection of data. The "edge", therefore, exerts primordial role in the life of the citizens, serving as a point of reinforcement of the nets of social interaction; co-operating in the process of the local economy establishment; maintaining the culture and offering products and services, particularly those deriving from the Amazonian biodiversity.

Quando a rentabilidade está aliada à qualidade de uma Instituição de Ensino Superior (IES) com capital aberto, sua atratividade por parte de futuros investidores é maior. Em geral, a rentabilidade das IES´s é divulgada por meio de prospectos, resultados trimestrais e relação com investidores (RI), entretanto esforços bem menores são alocados às demonstrações de indicadores de qualidade. Desta forma, este artigo propõe identificar fatores que refletem a qualidade de IES´s, apontando doze indicadores, dentre os quais, alguns que levam a benefícios à qualidade e outros que podem acusar riscos de diminuição da qualidade. Também foi construído um mapa de posicionamento com estes doze indicadores alocando-os nas variáveis rentabilidade e qualidade, de forma a identificar o nível de atratividade de uma IES.Cuando la rentabilidad se alía a la calidad de una Institución de Educación Superior (IES), su atracción de parte de inversor es más grande. La rentabilidad de las IES´s se comunica generalmente a través de prospectos, de informes trimestrales y relaciones con los inversores, no obstante son pocos los esfuerzos para presentar los indicadores de la calidad. De tal manera, este artículo considera los factores que reflejan la calidad de IES´s, señalando doce indicadores, entre las cuales, algo que llevan las ventajas la calidad y otros que pueden acusar riesgos con la reducción de la calidad. También fue construido un mapa de la colocación con estos doce indicadores con sus variables renta y calidad, de la forma que identifique el nivel de la atracción de un IES.When the yield is connected to the quality of a Higher Education Institution (HEI), its attractiveness for future investors is larger. In general, the yield data of the HEI's is available in prospects, quarterly results and relations with investors (RI). However, less effort is placed to demonstrations of quality indicators. So, this article intends to identify factors that reflect the quality of HEI's, presenting twelve pointers, some of them benefit quality and others can point out risks of quality reduction. A positioning map was also built by using these twelve pointers and placing them in the variables yield and quality, in order to identify the attractiveness level of an HEI.

This paper analyzes State powers over the Mexican electricity industry. The 2013-2014 energy reform replaced the hybrid single buyer model --flawed as a result of excessive government intervention-- with a wholesale electricity market that will gradually be extended to all users. To maximize competition, the State has retained ample and numerous powers to intervene through the Ministry of Energy. The transition from a public monopoly to an open market entails significant risks, which Mexico aims to minimize with strong political authority and a relatively controlled market. [ABSTRACT FROM AUTHOR]

Quantified multi-criteria models have increasingly wider applicability, with them we can assesses the current state of national and regional economies. This is done through the application of strictly stratified methodological apparatus that composes targeted certain empirical basis, objectively necessary for the ranking of countries according to the accumulated final results. The main idea of present paper is to consider the economic model of the International Chamber of Commerce (ICC), which allows evaluate the degree of openness of the markets based on four groups of indicators: Observed openness to trade, trade policy, FDI openness and Infrastructure for trade. The study is based in comparison to trace individual indicators, which form the final evaluation, based on Open Markets Index, which is the complex indicator of the openness of the markets in Bulgaria, Romania and Slovakia. Countries subject to analysis are selected on two main features: they belong to the socialist model of government until 1989, and their current full membership in the EU-28. Achieving the main aim requires solving two major tasks related to: 1. theoretical presentation of the methodology by which the ICC regulates the formation of assessments of the Open Markets Index. 2. analysis of individual indicators that accumulate the final results of individual indicators. Solving the tasks put systematized basis for drawing conclusions that direct the focus at some options and guidelines. They are potentially available to the three countries, which are the subjects of present study. [ABSTRACT FROM AUTHOR]

The globalization process emphasizes the need of a new management paradigm that will correspond to the current conditions. Having in mind that the knowledge management is recognized as a strategy that comprehends the most important and relevant issues related to the adaptation of the organization, its survival and its competencies are in conflict with the rapidly changing environment on the open market. The knowledge management implementation and effectiveness in the organization depend on several factors, such as organizational culture, human resource management and information technology. Therefore, the objective of the paper is to research the influence of the crucial factors of the knowledge management implementation and effectiveness on the telecommunication market in Republic of Macedonia, which is characterized as an open and dynamic market. The research was conducted in 10 companies, on a sample of 100 respondents - employees in these companies. The influence of the organizational culture, human resource management and information technology on the knowledge management implementation and effectiveness was examined. The results show the importance of the crucial factors in knowledge management implementation and effectiveness and the awareness of the managers and employees for the need of constant improvement of knowledge and skills. [ABSTRACT FROM AUTHOR]

Open market is defined as a market or place where prices are determined by supply and demand. The study proposes and tests an integrated model of consumers' purchase intentions toward open markets and investigates the differences in the adoption of open markets between Korea and China. Based on an extended technology acceptance model, we examined the effects of perceived website quality (PWSQ), perceived usefulness, third-party recognition, satisfaction, and trust on purchase intentions. We selected Korea as an established market economy and China as a transition economy. We obtained 147 usable responses in Korea and 113 usable responses in China. We analyzed the empirical data by using structural equation modeling. The results for empirical data from Korea provide support for all hypotheses except for the effect of perceived website quality on satisfaction. By contrast, the results for empirical data from China provide support for all hypotheses except for the effect of trust on satisfaction and that of PWSQ on trust. That is, perceived usefulness and PWSQ had significant effects on satisfaction, and third-party recognition had a significant effect on trust. We examined the differences between China and Korea through a t test to demonstrate cultural differences in the adoption of open markets. The relationships between perceived usefulness and satisfaction and between satisfaction and purchase intention were stronger in Korea than in China. The study contributes by proposing an integrated framework for open markets composed of the antecedents of satisfaction, trust, and purchase intentions and by measuring PWSQ and third-party recognition to consider diverse aspects of transactions in open markets. [ABSTRACT FROM AUTHOR]