The Internet has revolutionized the way consumers and firms interact in the marketplace, and it has dramatically changed the information enjoyed by market participants at various points in the value chain. This volume on the Internet and e-commerce provides academics and practitioners with useful research on the 'glue' that holds the new economy together. The first six chapters of the text examine four broad issues: the role of the Internet in fostering competition, its impact on price dispersion and on business-to-business transactions, and the importance of reputation and trust in the new economy. The last four chapters examine the impact of the Internet on the organization of firms, the efficiency of auctions in the Internet age, how consumers choose websites and acquire product information, and the growing problem of congestion on the Internet. This volume is part of Emerald's "Advances in Applied Microeconomics" series - an annual research volume that seeks to disseminate frontier research well in advance of journals and other outlets.