The DOI matches its Crossref record; 189 of the 194 references it cites were found in a registry or an index.
Externalities and complementarities in platforms and ecosystems: From structural solutions to endogenous failures
Open accessAbstract
Platforms and ecosystems provide structures for constellations of economic actors to engage and interact as they seek to create and capture value. We consider how the constructs of platforms and ecosystems relate and explore why they have become more ubiquitous by focusing on the nature of their value-add. We propose that they emerge as a response to distinct market failures, which we identify, and we explain which specific externalities they help overcome. We also identify post-hoc endogenous functional and distributional failures that platforms and ecosystems, in turn, generate. We discuss implications for theory and practice.
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“Value creation for consumers occurs when the value produced by individual actors' efforts exceeds the value complementors capture (Jacobides et al., 2024;Lepak et al., 2007).”
From What role do data network effects play for multihoming complements? An empirical analysis of platform complementors’ strategies for consumer value creation (2025) · cites this paper as Jacobides et al., 2024
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“As they design their digital product, complementors in platform ecosystems face a trade-off between value creation and value capture in their strategic decisions (Cennamo & Santaló, 2019;Jacobides et al., 2024).”
From What role do data network effects play for multihoming complements? An empirical analysis of platform complementors’ strategies for consumer value creation (2025) · cites this paper as Jacobides et al., 2024
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“Due to network interaction, individual actors' choices affect other actors' value (Jacobides et al., 2024;Rochet & Tirole, 2003)”
From What role do data network effects play for multihoming complements? An empirical analysis of platform complementors’ strategies for consumer value creation (2025) · cites this paper as Jacobides et al., 2024
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Citations
Cites
Governing the Commons: The Evolution of Institutions for Collective Action
Ostrom, E. (1990) · doi:10.1017/cbo9780511807763 · Cited by 20,653
Teece, D. J. (2007) · Strategic Management Journal · doi:10.1002/smj.640 · Cited by 16,825
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Porter, M. E. (1990) · doi:10.1007/978-1-349-11336-1 · Cited by 15,654
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Technological paradigms and technological trajectories
Dosi, G. (1982) · Research Policy · doi:10.1016/0048-7333(82)90016-6 · Cited by 6,685
Platform Competition in Two-Sided Markets
Rochet, J.-C., & Tirole, J. (2003) · Journal of the European Economic Association · doi:10.1162/154247603322493212 · Cited by 5,642
Governing the commons — the evolution of institutions for collective action
Weede, E. (1992) · European Journal of Political Economy · doi:10.1016/0176-2680(92)90034-e · Cited by 3,942
Towards a theory of ecosystems
Jacobides, M. G., Cennamo, C., & Gawer, A. (2018) · Strategic Management Journal · doi:10.1002/smj.2904 · Cited by 3,724
Self-citationDesign Rules: The Power of Modularity
Baldwin, C. Y., & Clark, K. B. (2000) · doi:10.7551/mitpress/2366.001.0001 · Cited by 3,504
Competition in two-sided markets
Armstrong, M. (2006) · The RAND Journal of Economics · doi:10.1111/j.1756-2171.2006.tb00037.x · Cited by 3,315
Research works printed but not linked: 3
- Baldwin, 2022, Design rules, volume 2: how technologies shape organizations. Chapter 15: ecosystems and complementarities
- Baldwin, 2000, vol. 1
- Gawer, 2022, Digital platforms and ecosystems: remarks on the dominant organizational forms of the digital age, Innov. Organ. Manag., 24, 110
Cited by
Sorted by citations
The Economics of Two-Sided Markets
Rysman, M. (2009) · Journal of Economic Perspectives · doi:10.1257/jep.23.3.125 · Cited by 1,261
Focusing the ecosystem lens on innovation studies
Baldwin, C. Y., Bogers, M. L. A. M., Kapoor, R., & West, J. (2024) · Research Policy · doi:10.1016/j.respol.2023.104949 · Cited by 179
Taming Platform Power: Taking Accountability into Account in the Management of Platforms
Rahman, H. A., Karunakaran, A., & Cameron, L. D. (2024) · Academy of Management Annals · doi:10.5465/annals.2022.0090 · Cited by 119
Lei, S., Shi, Q., Parida, V., & Jovanovic, M. (2024) · Journal of Business Research · doi:10.1016/j.jbusres.2023.114463 · Cited by 128
The Next Frontiers of Digital Innovation Research
Yoo, Y., Henfridsson, O., Kallinikos, J., Gregory, R. W., Burtch, G., Chatterjee, S., & Sarker, S. (2024) · Information Systems Research · doi:10.1287/isre.2024.editorial.v35.n4 · Cited by 90
Metadata
- Authors
- Jacobides, M. G., Cennamo, C., & Gawer, A.
- Affiliations
- London Business School (GB)
- Copenhagen Business School (DK)
- University of Surrey (GB)
- Corresponding author
- Jacobides, Michael G.
- Venue
- Research Policy
- Publisher
- Elsevier BV
- Published
- 2024-01
- Volume
- 53
- Issue
- 1
- Pages
- 104906
- ISSN
- 0048-7333 (ISSN-L)
- OpenAlex
- W4388361755
- Cited by
- 220
- References
- 194
- Citations by year
- 2026: 95 · 2025: 79 · 2024: 41
- FWCI
- 47.27
- Type
- journal article
- Language
- en
- Open access
- hybrid
- doi.org
- Licence
- Locations
- Research Policy (publishedVersion, cc-by)
- SSRN Electronic Journal (acceptedVersion)
- London Business School Research Online (London Business School) (acceptedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- CBS Research Portal (Copenhagen Business School) (submittedVersion, cc-by)
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Digital Platforms and Economics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Theory and Institutions
- Social Sciences › Business, Management and Accounting › Strategy and Management › Innovation and Knowledge Management
- Keywords
- digital platforms, digital ecosystems, externalities, market failure, value creation, value capture, complementarity, platform governance
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