A Core Ontology for Economic Exchanges

Daniele Porello; Giancarlo Guizzardi; Tiago Prince Sales; Glenda Amaral

doi:10.1007/978-3-030-62522-1_27

A Core Ontology for Economic Exchanges

Daniele Porello
, Giancarlo Guizzardi
, Tiago Prince Sales
, Glenda Amaral^*

^*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

19 Citations (Scopus)

Abstract

In recent years, there has been an increasing interest in the development of well-founded conceptual models for Service Management, Accounting Information Systems and Financial Reporting. Economic exchanges are a central notion in these areas and they occupy a prominent position in frameworks such as the Resource-Event Action (REA) ISO Standard, service core ontologies (e.g., UFO-S) as well as financial standards (e.g. OMG’s Financial Industry Business Ontology - FIBO). We present a core ontology for economic exchanges inspired by a recent view on this phenomenon. According to this view, economic exchanges are based on an agreement on the actions that the agents are committed to perform. This view enables a unified treatment of economic exchanges, regardless the object of the transaction. We ground our core ontology on the Unified Foundational Ontology (UFO), discussing its formal and conceptual aspects, instantiating it as a reusable OntoUML model, and confronting it with the REA standard and the UFO-S service ontology.

Original language	English
Title of host publication	Conceptual Modeling
Subtitle of host publication	39th International Conference, ER 2020, Vienna, Austria, November 3–6, 2020, Proceedings
Editors	Gillian Dobbie, Ulrich Frank, Gerti Kappel, Stephen W. Liddle, Heinrich C. Mayr
Place of Publication	Cham
Publisher	Springer
Pages	364-374
Number of pages	11
Edition	1
ISBN (Electronic)	978-3-030-62522-1
ISBN (Print)	978-3-030-62521-4
DOIs	https://doi.org/10.1007/978-3-030-62522-1_27
Publication status	Published - 2020
Externally published	Yes
Event	39th International Conference on Conceptual Modeling, ER 2020 - Virtual Event, Vienna, Austria Duration: 3 Nov 2020 → 6 Nov 2020 Conference number: 39 https://er2020.big.tuwien.ac.at/

Publication series

Name	Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume	12400 LNCS
ISSN (Print)	0302-9743
ISSN (Electronic)	1611-3349

Conference

Conference	39th International Conference on Conceptual Modeling, ER 2020
Abbreviated title	ER 2020
Country/Territory	Austria
City	Vienna
Period	3/11/20 → 6/11/20
Internet address	https://er2020.big.tuwien.ac.at/

Keywords

n/a OA procedure
Economic exchanges
Enterprise modeling
Preferences
Unified Foundational Ontology
Business ontology

Access to Document

10.1007/978-3-030-62522-1_27

Cite this

Porello, D., Guizzardi, G., Sales, T. P., & Amaral, G. (2020). A Core Ontology for Economic Exchanges. In G. Dobbie, U. Frank, G. Kappel, S. W. Liddle, & H. C. Mayr (Eds.), Conceptual Modeling: 39th International Conference, ER 2020, Vienna, Austria, November 3–6, 2020, Proceedings (1 ed., pp. 364-374). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 12400 LNCS). Springer. https://doi.org/10.1007/978-3-030-62522-1_27

Porello, Daniele ; Guizzardi, Giancarlo ; Sales, Tiago Prince et al. / A Core Ontology for Economic Exchanges. Conceptual Modeling: 39th International Conference, ER 2020, Vienna, Austria, November 3–6, 2020, Proceedings. editor / Gillian Dobbie ; Ulrich Frank ; Gerti Kappel ; Stephen W. Liddle ; Heinrich C. Mayr. 1. ed. Cham : Springer, 2020. pp. 364-374 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)).

@inproceedings{864c56003c0041d5bbed7aa35095678e,

title = "A Core Ontology for Economic Exchanges",

abstract = "In recent years, there has been an increasing interest in the development of well-founded conceptual models for Service Management, Accounting Information Systems and Financial Reporting. Economic exchanges are a central notion in these areas and they occupy a prominent position in frameworks such as the Resource-Event Action (REA) ISO Standard, service core ontologies (e.g., UFO-S) as well as financial standards (e.g. OMG{\textquoteright}s Financial Industry Business Ontology - FIBO). We present a core ontology for economic exchanges inspired by a recent view on this phenomenon. According to this view, economic exchanges are based on an agreement on the actions that the agents are committed to perform. This view enables a unified treatment of economic exchanges, regardless the object of the transaction. We ground our core ontology on the Unified Foundational Ontology (UFO), discussing its formal and conceptual aspects, instantiating it as a reusable OntoUML model, and confronting it with the REA standard and the UFO-S service ontology.",

keywords = "n/a OA procedure, Economic exchanges, Enterprise modeling, Preferences, Unified Foundational Ontology, Business ontology",

author = "Daniele Porello and Giancarlo Guizzardi and Sales, \{Tiago Prince\} and Glenda Amaral",

note = "Publisher Copyright: {\textcopyright} 2020, Springer Nature Switzerland AG.; 39th International Conference on Conceptual Modeling, ER 2020, ER 2020 ; Conference date: 03-11-2020 Through 06-11-2020",

year = "2020",

doi = "10.1007/978-3-030-62522-1\_27",

language = "English",

isbn = "978-3-030-62521-4",

series = "Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)",

publisher = "Springer",

pages = "364--374",

editor = "Gillian Dobbie and Ulrich Frank and Gerti Kappel and Liddle, \{Stephen W.\} and Mayr, \{Heinrich C.\}",

booktitle = "Conceptual Modeling",

address = "Germany",

edition = "1",

url = "https://er2020.big.tuwien.ac.at/",

}

Porello, D, Guizzardi, G , Sales, TP & Amaral, G 2020, A Core Ontology for Economic Exchanges. in G Dobbie, U Frank, G Kappel, SW Liddle & HC Mayr (eds), Conceptual Modeling: 39th International Conference, ER 2020, Vienna, Austria, November 3–6, 2020, Proceedings. 1 edn, Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), vol. 12400 LNCS, Springer, Cham, pp. 364-374, 39th International Conference on Conceptual Modeling, ER 2020, Vienna, Austria, 3/11/20. https://doi.org/10.1007/978-3-030-62522-1_27

A Core Ontology for Economic Exchanges. / Porello, Daniele; Guizzardi, Giancarlo ; Sales, Tiago Prince et al.
Conceptual Modeling: 39th International Conference, ER 2020, Vienna, Austria, November 3–6, 2020, Proceedings. ed. / Gillian Dobbie; Ulrich Frank; Gerti Kappel; Stephen W. Liddle; Heinrich C. Mayr. 1. ed. Cham: Springer, 2020. p. 364-374 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 12400 LNCS).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

TY - GEN

T1 - A Core Ontology for Economic Exchanges

AU - Porello, Daniele

AU - Guizzardi, Giancarlo

AU - Sales, Tiago Prince

AU - Amaral, Glenda

N1 - Conference code: 39

PY - 2020

Y1 - 2020

N2 - In recent years, there has been an increasing interest in the development of well-founded conceptual models for Service Management, Accounting Information Systems and Financial Reporting. Economic exchanges are a central notion in these areas and they occupy a prominent position in frameworks such as the Resource-Event Action (REA) ISO Standard, service core ontologies (e.g., UFO-S) as well as financial standards (e.g. OMG’s Financial Industry Business Ontology - FIBO). We present a core ontology for economic exchanges inspired by a recent view on this phenomenon. According to this view, economic exchanges are based on an agreement on the actions that the agents are committed to perform. This view enables a unified treatment of economic exchanges, regardless the object of the transaction. We ground our core ontology on the Unified Foundational Ontology (UFO), discussing its formal and conceptual aspects, instantiating it as a reusable OntoUML model, and confronting it with the REA standard and the UFO-S service ontology.

AB - In recent years, there has been an increasing interest in the development of well-founded conceptual models for Service Management, Accounting Information Systems and Financial Reporting. Economic exchanges are a central notion in these areas and they occupy a prominent position in frameworks such as the Resource-Event Action (REA) ISO Standard, service core ontologies (e.g., UFO-S) as well as financial standards (e.g. OMG’s Financial Industry Business Ontology - FIBO). We present a core ontology for economic exchanges inspired by a recent view on this phenomenon. According to this view, economic exchanges are based on an agreement on the actions that the agents are committed to perform. This view enables a unified treatment of economic exchanges, regardless the object of the transaction. We ground our core ontology on the Unified Foundational Ontology (UFO), discussing its formal and conceptual aspects, instantiating it as a reusable OntoUML model, and confronting it with the REA standard and the UFO-S service ontology.

KW - n/a OA procedure

KW - Economic exchanges

KW - Enterprise modeling

KW - Preferences

KW - Unified Foundational Ontology

KW - Business ontology

UR - https://www.scopus.com/pages/publications/85097374360

U2 - 10.1007/978-3-030-62522-1_27

DO - 10.1007/978-3-030-62522-1_27

M3 - Conference contribution

AN - SCOPUS:85097374360

SN - 978-3-030-62521-4

T3 - Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)

SP - 364

EP - 374

BT - Conceptual Modeling

A2 - Dobbie, Gillian

A2 - Frank, Ulrich

A2 - Kappel, Gerti

A2 - Liddle, Stephen W.

A2 - Mayr, Heinrich C.

PB - Springer

CY - Cham

T2 - 39th International Conference on Conceptual Modeling, ER 2020

Y2 - 3 November 2020 through 6 November 2020

ER -

Porello D, Guizzardi G , Sales TP, Amaral G. A Core Ontology for Economic Exchanges. In Dobbie G, Frank U, Kappel G, Liddle SW, Mayr HC, editors, Conceptual Modeling: 39th International Conference, ER 2020, Vienna, Austria, November 3–6, 2020, Proceedings. 1 ed. Cham: Springer. 2020. p. 364-374. (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)). Epub 2020 Oct 29. doi: 10.1007/978-3-030-62522-1_27

A Core Ontology for Economic Exchanges

Abstract

Publication series

Conference

Keywords

Access to Document

Other files and links

Fingerprint

Cite this