The DOI matches its Crossref record; 242 of the 242 references it cites were found in a registry or an index; 2 of the 18 sources its claims cite were checked for support.
The Economics of Two-Sided Markets
Open accessAbstract
Broadly speaking, a two-sided market is one in which 1) two sets of agents interact through an intermediary or platform, and 2) the decisions of each set of agents affects the outcomes of the other set of agents, typically through an externality. In the case of a video game system, the intermediary is the console producer—Sony in the scenario above—while the two sets of agents are consumers and video game developers. Neither consumers nor game developers will be interested in the PlayStation if the other party is not. Similarly, a successful payment card requires both consumer usage and merchant acceptance, where both consumers and merchants value each others' participation. Many more products fit into this paradigm, such as search engines, newspapers, and almost any advertiser-supported media (examples in which consumers typically negatively value, rather than positively value, the participation of the other side), as well as most software or title-based operating systems and consumer electronics. This paper seeks to explain what two-sided markets are and why they interest economists. I discuss the strategies that firms typically consider, and I highlight a number of puzzling outcomes from the perspective of the economics of two-sided markets. Finally, I consider the implications for public policy, particularly antitrust and regulatory policy, where there have been a number of recent issues involving media, computer operating systems, and payment cards.
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Claims the paper makes
64 Own interpretation · 21 No basis given · 9 Sources not found · 5 No full text of the sources · 1 Supported · 1 Partly supported · 1 Not checked yet · accuracy not yet measured
The cited sources support only part of this claim — read each source’s verdict below.
In the paper
“In fact, two-sided markets often seem to evolve toward to a situation where members of one side use a single platform and the other side uses multiple platforms; Armstrong (2006, Section 5) makes this point and provides formal analysis.”
§ The Economics of Two-Sided Markets > Pricing
What the sources say
- Partly supportedcites Armstrong (2006, Section 5) sourceExperimental — accuracy not yet measured
Section 5, “Competitive bottlenecks” (page unavailable), formally analyzes a market in which one group uses a single platform and the other uses multiple platforms. The discussion preceding Section 5 says several important markets resemble this configuration. The paper does not establish that markets evolve toward it over time. (LLM, conf=0.83)
hedgedcorrelational- Asserted: passes — The authors put it forward as true.
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- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
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- Partly supported
Every source the paper cites for this claim was checked and supports it.
In the paper
“Hence, firms compete aggressively on the side that uses a single network in order to charge monopoly prices to the other side that is trying to reach them (Armstrong, 2006).”
§ The Economics of Two-Sided Markets > Pricing
What the sources say
- Supportedcites Armstrong, 2006 source
In “Fixed fees or per-transaction charges” (page unavailable), Armstrong says platforms compete for single-homing agents but have monopoly power over access to them, leading to high prices for the multi-homing side. Section 5, “Competitive bottlenecks” (page unavailable), describes each platform as holding a local monopoly over that access. The claim is a fair paraphrase of this competitive-bottleneck result. (LLM, conf=0.91)
plaindirect- Asserted: passes — The authors put it forward as true.
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- Supported
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“In addition, two-sided markets allow for a new form of price discrimination: discrimination based on heterogeneity in the attractiveness of an agent to the other side.”
§ The Economics of Two-Sided Markets > Pricing
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“These markets seem much less flexible in terms of the choice of two-sidedness.”
§ The Economics of Two-Sided Markets > Openness
plain- Asserted: passes — The authors put it forward as true.
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The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Advertising prices depend on consumer demand for advertising as well, with relatively low prices for advertisements that consumers more highly value (such as classified advertisements and some local advertisements).”
§ The Economics of Two-Sided Markets > Abstract
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Hence, the “twosidedness” of pricing can be more pronounced in competitive markets.”
§ The Economics of Two-Sided Markets > Pricing
plainconditional- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“If there are multiple competing market intermediaries, the effect of participation of one side on the other has even more bite.”
§ The Economics of Two-Sided Markets > Pricing
plaindirect- Asserted: passes — The authors put it forward as true.
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The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“The main result is that pricing to one side of the market depends not only on the demand and costs that those consumers bring but also on how their participation affects participation on the other side and the profit that is extracted from that participation.”
§ The Economics of Two-Sided Markets > Pricing
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“In this sense, Microsoft is more open than Apple.”
§ The Economics of Two-Sided Markets > Openness
plain- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“In this scenario, the interchange fee primarily affects the terms that merchants and consumers face and the total volume of transactions.”
§ The Economics of Two-Sided Markets > Abstract
plaindirect- Asserted: passes — The authors put it forward as true.
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- Probably not a substantial claim. 34
- It may state two separate claims as one. 39
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Of great controversy is that the merchant's bank must pay the consumer's bank an “interchange fee,” a percent of each transaction.”
§ The Economics of Two-Sided Markets > Abstract
plaindirect- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper may give no reason why it holds.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Providers of platforms often prefer incompatibility on the grounds that it locks in current customers and locks out competitors.”
§ The Economics of Two-Sided Markets > Openness
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“The interchange fee presumably explains why banks can offer generous rewards programs to consumers for using their credit cards.”
§ The Economics of Two-Sided Markets > Abstract
hedgedconditional- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“This result might explain why payment card pricing has increasingly favored consumers over time rather than merchants (for instance, with the rise of rewards programs), since consumers and not merchants typically use a single network and competition among card networks has become more important relative to competition between card networks and cash.”
§ The Economics of Two-Sided Markets > Pricing
hedgedconditional- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Hence, payment associations offered supermarkets relatively low interchange fees, which led to low bank fees and ultimately to the adoption of payment card usage by supermarkets.”
§ The Economics of Two-Sided Markets > Pricing
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“These changes do not appear to have led to a strategic change with respect to interchange policy.”
§ The Economics of Two-Sided Markets > Abstract
hedged- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds.
In the paper
“However, as Rochet and Tirole (2002) point out, if serving consumers and merchants is perfectly competitive, then the interchange fee does not affect the profits of the member banks.”
§ The Economics of Two-Sided Markets > Abstract
What the sources say
- Not checked — no full text of the sourcecites Rochet and Tirole (2002) source
plain- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Thus, it may be better to discuss two-sided “strategies” rather than two-sided “markets,” because two-sidedness is an endogenous choice in some markets, not a technologically determined outcome.”
§ The Economics of Two-Sided Markets > Openness
hedgedconditionalSingle case- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. It may be too vague to check against evidence. The paper’s conclusions may not depend on it. It may state two separate claims as one.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“The interchange fee is set by the card association, and in this sense is set cooperatively by the member banks.”
§ The Economics of Two-Sided Markets > Abstract
plaindirect- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds. It may state two separate claims as one.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Merchants typically accept payment on multiple networks-for example, Visa, Mastercard, American Express, and Discover-as well as via alternatives such as on-line debit cards and personal checks.”
§ The Economics of Two-Sided Markets > Pricing
plain- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Newspapers are a canonical two-sided market, where the newspaper provides a platform for communication from advertisers to consumers.”
§ The Economics of Two-Sided Markets > Abstract
plain- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“For instance, in any market, prices typically fall as the price elasticity of demand increases, but in a two-sided market the effect can be even larger: The low price on one side not only attracts elastic consumers on that side but also, as a result, leads to higher prices or more participation on the other side.”
§ The Economics of Two-Sided Markets > Pricing
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“But now, lowering the consumer price attracts consumers from the competing platform, which degrades the value of the competitor to buyers, and hence leads to a larger increase in buyer interest in the original platform.”
§ The Economics of Two-Sided Markets > Pricing
plaindirect- Asserted: passes — The authors put it forward as true.
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The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“The merchant's fee is set to reflect this cost and is usually only slightly higher than the interchange fee.”
§ The Economics of Two-Sided Markets > Abstract
plaindirect- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds. It may state two separate claims as one.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“A successful operating system requires consumer adoption as well as software development by software vendors.”
§ The Economics of Two-Sided Markets > Abstract
plaindirect- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds. It may state two separate claims as one.
In the paper
“Thus, discrimination increases the value extracted on one side, which leads to lower prices on the other side which has now become more valuable (Weyl, 2009).”
§ The Economics of Two-Sided Markets > Pricing
What the sources say
- Not checked — no full text of the sourcecites Weyl, 2009 source
plaindirect- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“That is, we can characterize Microsoft as managing a three-sided market between consumers, software providers, and hardware providers, whereas Apple manages only a two-sided market between consumers and software providers.”
§ The Economics of Two-Sided Markets > Openness
plain- Asserted: passes — The authors put it forward as true.
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The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Note that Mastercard and Visa incorporated in 2006 and 2007 and so are organized as for-profit corporations rather than as associations or cooperatives.”
§ The Economics of Two-Sided Markets > Abstract
plaindirect- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds. It may state two separate claims as one.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Payment cards like Visa, MasterCard, and American Express are two-sided in the sense that they require consumer usage and merchant acceptance to be successful.”
§ The Economics of Two-Sided Markets > Abstract
plaindirect- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Similarly, it is common to establish a technological standard through free distribution of a basic product (for instance, Adobe's free distribution of Reader popularizes the PDF standard) and then profit on peripheral products (such as Adobe Acrobat).”
§ The Economics of Two-Sided Markets > Pricing
plaindirect- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Similarly, a successful payment card requires both consumer usage and merchant acceptance, where both consumers and merchants value each others' participation.”
§ The Economics of Two-Sided Markets > Abstract
plaincorrelational- Asserted: passes — The authors put it forward as true.
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The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“In markets with multiple newspapers, consumers typically read only one newspaper whereas advertisers appear in all of them.”
§ The Economics of Two-Sided Markets > Pricing
plain- Asserted: passes — The authors put it forward as true.
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A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“In addition, there is a more subtle effect through mark-ups: advertising to one side that raises the mark-up on that side leads to lower prices on the other side, and vice versa.”
§ The Economics of Two-Sided Markets > Other Strategies
plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“If there is no antitrust violation in setting interchange fees but the equilibrium outcome diverges from the social optimum (as in Rochet and Tirole, 2002), then price regulation may be a reasonable solution.”
§ The Economics of Two-Sided Markets > Regulation
What the sources say
- Not checked — no full text of the sourcecites Rochet and Tirole, 2002 source
hedgedconditional- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. It may be too vague to check against evidence. It may state two separate claims as one.
In the paper
“As such, it is unlikely that the theory of two-sided markets will have much effect here, although there is some movement to make predatory pricing easier to prosecute(Brodley, Bolton, and Riordan, 2000).”
§ The Economics of Two-Sided Markets > y I thank Mark Armstrong, David Evans, Marshall Van Alstyne, Pai Ying Li, and Glen
What the sources say
- Not matchedcites Brodley, Bolton, and Riordan, 2000
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
hedged- Asserted: passes — The authors put it forward as true.
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- Not matched
None of the sources cited for this claim have been checked yet.
In the paper
“If the sellers cannot differentiate aside from adopting a standard, they must differentiate by choosing separate standards, which leads to the adoption of multiple standards (Ellison and Fudenberg, 2003) or even adoption failure (Augereau, Greenstein, and Rysman, 2006;Kretschmer, 2008).”
§ The Economics of Two-Sided Markets > Openness
What the sources say
- Not checked — no full text of the sourcecites Ellison and Fudenberg, 2003 source
- Not matchedcites Augereau, Greenstein, and Rysman, 2006;Kretschmer, 2008
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirect- Asserted: passes — The authors put it forward as true.
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In the paper
“For instance, cash is more costly to process than credit card payments, whereas electronic debit is cheaper (Reserve Bank of Australia, 2007).”
§ The Economics of Two-Sided Markets > Regulation
What the sources say
- Not matchedcites Reserve Bank of Australia, 2007
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plain- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it. It may state two separate claims as one.
- Not matched
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“The economics of two-sided markets can play an important role in guiding the determination of the optimal fee, although it does not appear to have done so to date.”
§ The Economics of Two-Sided Markets > Regulation
hedgedconditional- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it. It may state two separate claims as one.
In the paper
“Knittel and Stango (2008) argue that deregulating surcharges for ATMs had a major role in causing the expansion.”
§ The Economics of Two-Sided Markets > Regulation
What the sources say
- Not checked — no full text of the sourcecites Knittel and Stango (2008) source
plaindirect- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper’s conclusions may not depend on it.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Two-sided markets typically have network effects and as such are likely to tip toward a single dominant platform.”
§ The Economics of Two-Sided Markets > Antitrust
hedgedconditional- Asserted: passes — The authors put it forward as true.
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Probably not a substantial claim. The paper may give no reason why it holds. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Hence, fees were deregulated in this market, in contrast with the current trend toward regulation in payment cards.”
§ The Economics of Two-Sided Markets > Regulation
plain- Asserted: passes — The authors put it forward as true.
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- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
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It may state two separate claims as one.
- Rests on an assumption: Increased prices led to more consumer usage rather than less because ATMs were much more conveniently located.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Thus, persuasive advertising on one side can lead to lower prices on the other side, whereas informative advertising on one side leads to higher prices on the other.”
§ The Economics of Two-Sided Markets > Other Strategies
plaindirect- Asserted: passes — The authors put it forward as true.
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It may state two separate claims as one.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“Video games compete with a host of leisure activities for consumer attention, but not for game developer attention.”
§ The Economics of Two-Sided Markets > Antitrust
plain- Asserted: passes — The authors put it forward as true.
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- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“It seems clear that the economics of two-sided markets is highly relevant for pricing analysis in antitrust.”
§ The Economics of Two-Sided Markets > Antitrust
boostedcorrelational- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“The literature has important policy implications for pricing analysis, an important feature of regulation and a large part of antitrust analysis.”
§ The Economics of Two-Sided Markets > Conclusion
plain- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence. The paper may give no reason why it holds.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“In general, my prediction is that two-sided analysis will grow in importance in areas where pricing analysis is important, whereas the effect will be more limited in exclusionary conduct cases such as monopolization and conditional sales.”
§ The Economics of Two-Sided Markets > Antitrust
hedgedconditional- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. The paper may give no reason why it holds. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“However, the technical legal question was about cooperation and the nature of the Visa association, not about two-sided markets.”
§ The Economics of Two-Sided Markets > Antitrust
plainSingle case- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
The paper states this without a source or data behind it here, so there is nothing to check it against. The quote shows it is in the paper.
In the paper
“For example, newspapers compete with billboards for advertising, but not for consumer readership.”
§ The Economics of Two-Sided Markets > Antitrust
plain- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“The interchange fees imposed in Australia may or may not raise social welfare, but the process for determining the fee surely diverges from the prescription of the economics of two-sided markets.”
§ The Economics of Two-Sided Markets > Regulation
hedged- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Here, pricing issues were crucial and two-sided market concerns were relatively important.”
§ The Economics of Two-Sided Markets > Antitrust
plaindirectSingle case- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Economic theory suggests that any determination of the optimal interchange fee should consider the marginal costs of serving both consumers and merchants as well as price elasticities of demand and interaction elasticities of demand to usage on the other side of the market.”
§ The Economics of Two-Sided Markets > Regulation
hedged- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. The paper may give no reason why it holds.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“From different perspectives, the same business may have different numbers of sides.”
§ The Economics of Two-Sided Markets > y I thank Mark Armstrong, David Evans, Marshall Van Alstyne, Pai Ying Li, and Glen
hedgedconditional- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. The paper’s conclusions may not depend on it.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Certain more subtle strategies are more common in two-sided than in onesided markets.”
§ The Economics of Two-Sided Markets > Other Strategies
plaincorrelational- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence. The paper’s conclusions may not depend on it.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Advertising on one side raises participation and usage on that side, which raises demand on the other side, and so advertising on one side can lead to higher prices on the other.”
§ The Economics of Two-Sided Markets > Other Strategies
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“That is, determining the difference between optimal and equilibrium prices has little role in establishing the legality of an action in a monopolization case (although it may have an important role in determining the requisite question of whether a firm has market power).”
§ The Economics of Two-Sided Markets > Antitrust
plain- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
- Rests on an assumption: Inefficient pricing is not an antitrust violation by itself.
- Rests on an assumption: Monopolization and vertical contracting cases typically hinge on whether a firm has excluded competitors from the market in a way that did not benefit consumers or reduce costs.
In the paper
“The court deemed that system unworkable, and hence the collectively set interchange fee was legal as it was necessary to provide the Visa card.”
§ The Economics of Two-Sided Markets > Antitrust
What the sources say
- Not matchedcites National Bancard Corp.(Nabanco) v. Visa U.S.A., Inc. (779 F.2d 592 [11 th Cir.1986])
Couldn’t be matched to a paper in Crossref, so it can’t be checked.
plaindirectSingle case- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
- Not matched
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“The Internet service providers can be seen as platforms matching Internet users to content providers and hence, the concept of net neutrality is often evaluated from the perspective of two-sided markets.”
§ The Economics of Two-Sided Markets > y I thank Mark Armstrong, David Evans, Marshall Van Alstyne, Pai Ying Li, and Glen
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. The paper’s conclusions may not depend on it. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“The economics of two-sided markets provides insights primarily into pricing and so is likely to be particularly important for the parts of antitrust enforcement that focus on pricing issues.”
§ The Economics of Two-Sided Markets > Antitrust
hedgedcorrelational- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“In a two-sided market, we should consider multiple prices and, potentially, different measures of competition for each side.”
§ The Economics of Two-Sided Markets > Antitrust
hedged- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“The economics of two-sided markets are important for a wide variety of public policy issues.”
§ The Economics of Two-Sided Markets > Public Policy
plain- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence. The paper’s conclusions may not depend on it. The paper may give no reason why it holds.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Pricing issues are the main thrust of a great deal of economic regulation, and as such, the economics of two-sided markets can make a large contribution.”
§ The Economics of Two-Sided Markets > Regulation
plainconditional- Asserted: passes — The authors put it forward as true.
- Checkable: fails — It may be too vague to check against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. It may be too vague to check against evidence. The paper’s conclusions may not depend on it. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Also, a platform firm must be concerned not only with its own quality and advertising, but also that of the vendors who operate over its network.”
§ The Economics of Two-Sided Markets > Other Strategies
plain- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. The paper’s conclusions may not depend on it.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Similarly, the effects of quality investment will depend on whether it generates relatively price-elastic or -inelastic consumers on the margin, and on whether it attracts consumers that are more or less responsive to participation on the other side.”
§ The Economics of Two-Sided Markets > Other Strategies
plainconditional- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Pricing was not a primary issue in this calculation, and it is unclear that two-sided market economics offers much guidance.”
§ The Economics of Two-Sided Markets > Antitrust
plainSingle case- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: unclear — It is unclear whether the paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“A network of ATMs is two-sided in the sense that it is more valuable to consumers if it can reach more banks and more valuable to banks if more consumers use it, which is often a function of how many locations a network reaches.”
§ The Economics of Two-Sided Markets > Regulation
plaindirect- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: passes — The paper’s conclusions depend on it.
- Based: passes — The paper gives a reason why it holds.
Probably not a substantial claim. It may state two separate claims as one.
A conclusion the paper draws from its own results — it cites no other source for it, so there is none to check. The quote shows it is in the paper.
In the paper
“Common strategies in one-sided markets like innovation, advertising, and quality investment can take on added dimensions in a two-sided market.”
§ The Economics of Two-Sided Markets > Other Strategies
plaincorrelational- Asserted: passes — The authors put it forward as true.
- Checkable: passes — It can be checked against evidence.
- Load-bearing: fails — The paper’s conclusions may not depend on it.
- Based: fails — The paper may give no reason why it holds.
Probably not a substantial claim. The paper’s conclusions may not depend on it. The paper may give no reason why it holds.
The paper relies on this without support.
Two-sidedness may exist in practically all markets.
“That is, although two-sidedness may exist in practically all markets, it is not always quantitatively important.”
The paper relies on this without support.
The difference in industries between the two-sided markets literature and the network effects literature is not crucial.
“However, the difference in industries is not crucial, and there are exceptions on both sides.”
The paper relies on this without support.
The two-sided markets literature and the network effects literature have a lot in common.
“Many papers that study operating systems identify themselves with network effects rather than two-sided markets so perhaps this example is less canonical, but as I have argued, the two literatures have a lot in common.”
The paper relies on this without support.
Antitrust authorities typically use the size of cross-price elasticities to determine what products should be included in a relevant market.
“Antitrust authorities typically use the size of cross-price elasticities to determine what products should be included in a relevant market.”
The paper relies on this without support.
Inefficient pricing is not an antitrust violation by itself.
“Although inefficient pricing is the hallmark of the economic criticism of monopoly power, inefficient pricing is not an antitrust violation by itself.”
The paper relies on this without support.
Monopolization and vertical contracting cases typically hinge on whether a firm has excluded competitors from the market in a way that did not benefit consumers or reduce costs.
“Monopolization and vertical contracting cases typically hinge on whether a firm has excluded competitors from the market in a way that did not benefit consumers or reduce costs.”
The paper relies on this without support.
In December 2007, the European Commission ruled that the interchange fee at MasterCard for cross-border transactions is collusive and illegal.
“In December 2007, the European Commission ruled that the interchange fee at MasterCard (for crossborder transaction) is collusive and illegal.”
The paper relies on this without support.
MasterCard can exist with a zero-interchange fee.
“Since MasterCard can exist with a zero-interchange fee, the exemption to the joint behavior was eliminated.”
The paper relies on this without support.
Increased prices led to more consumer usage rather than less because ATMs were much more conveniently located.
“Furthermore, increased prices led to more consumer usage rather than less because ATMs were much more conveniently located.”
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
Each contradiction between two passages listed here was confirmed by an independent check.
Rated minor: it would not touch a result — a value no result rests on, a p-value that stays on the same side of the significance level, or a conflict that is clerical, resolved elsewhere in the paper, or outside its own findings.
In the paper
§ The Economics of Two-Sided Markets > References
“Armstrong, Mark. 2006. "Competition in Two- Sided Markets." The RAND Journal of Economics, 37(3): 668 -91.”
§ The Economics of Two-Sided Markets > References
“Rochet, Jean-Charles, and Jean Tirole. 2006. "Two-Sided Markets: A Progress Report." The RAND Journal of Economics, 35(3): 645-67.”
Citations
Cites
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
Competition and Innovation: An Inverted-U Relationship*
Aghion, P., Bloom, N., Blundell, R. W., Griffith, R., & Howitt, P. W. (2005) · The Quarterly Journal of Economics · doi:10.1093/qje/120.2.701 · Cited by 3,769
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
Two-sided markets: A progress report
Rochet, J.-C., & Tirole, J. (2006) · The RAND Journal of Economics · doi:10.1111/j.1756-2171.2006.tb00036.x · Cited by 2,994
Competition and innovation: an inverted U relationship
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Chicken & Egg: Competition among Intermediation Service Providers
Caillaud, B., & Jullien, B. (2003) · The RAND Journal of Economics · doi:10.2307/1593720 · Cited by 1,799
Two-Sided Network Effects: A Theory of Information Product Design
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Competition and Innovation: An Inverted-U Relationship*
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Open Platform Strategies and Innovation: Granting Access vs. Devolving Control
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Journal of the European Economic Association
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Research works printed but not linked: 5
- Boudreau Kevin, 2007, MIT Sloan Research Paper, 4611
- Brodley Joseph F, 2000, Georgetown Law Journal, 88, 2239
- Ellison Glenn, 2009, Econometrica, 77, 427
- Evans David S, 2003, Yale Journal on Regulation, 20, 325
- Rysman Marc, 2007, Competition Policy International, 3, 197
Cited by
Sorted by citations
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Soliman, W., & Tuunainen, V. K. (2021) · Information Systems Journal · doi:10.1111/isj.12355 · Cited by 43
Exploiting incumbents' potentialities: From linear value chains to multisided platforms
Dell’Era, C., Trabucchi, D., & Magistretti, S. (2020) · Creativity and Innovation Management · doi:10.1111/caim.12413 · Cited by 36
Zhou, Y. (2016) · Management Science · doi:10.1287/mnsc.2016.2529 · Cited by 36
Heiden, P. Z., Priefer, J., & Beverungen, D. (2024) · IEEE Transactions on Engineering Management · doi:10.1109/tem.2024.3352819 · Cited by 35
On-demand ride-hailing platforms under green mobility: Pricing strategies and government regulation
Xu, Y. K., Ling, L., Wu, J., & Xu, S. (2024) · Transportation Research Part E Logistics and Transportation Review · doi:10.1016/j.tre.2024.103650 · Cited by 36
FREE PARKING FOR ALL IN SHOPPING MALLS
Hasker, K., & Eren Inci, Z. (2014) · International Economic Review · doi:10.1111/iere.12090 · Cited by 38
“That is, the price charged to one side is inversely proportional to the elasticity of demand on that side (Rochet and Tirole, 2003, 2007; Armstrong, 2006; Rysman, 2009).”
BackgroundAdvertising Strategies for Mobile Platforms With “Apps”
Wang, R., Gou, Q., Choi, T., & Liang, L. (2016) · IEEE Transactions on Systems Man and Cybernetics Systems · doi:10.1109/tsmc.2016.2616369 · Cited by 35
McCabe, M. J., Snyder, C. M., & Fagin, A. (2012) · The Journal of Academic Librarianship · doi:10.1016/j.acalib.2012.11.035 · Cited by 40
Collusion, mergers, and related antitrust issues
Asker, J. W., & Nocke, V. (2021) · Handbook of Industrial Organization · doi:10.1016/bs.hesind.2021.11.012 · Cited by 42
Governing the Anticommons: Institutional Design for Standard-Setting Organizations
Simcoe, T. S. (2014) · Innovation Policy and the Economy · doi:10.1086/674022 · Cited by 35
“The economics of platform leadership are described in Rysman (2009), as well as by Gawer and Henderson (2007) and Evans and Schmalensee (2008).”
BackgroundDynamic order allocation in a duopoly hybrid workforce of competition: A machine learning approach
Wang, X., Zhang, Y., & Zhang, S. (2023) · European Journal of Operational Research · doi:10.1016/j.ejor.2023.12.026 · Cited by 37
Reassessing competition concerns in electronic communications markets
Peitz, M., & Valletti, T. (2015) · Telecommunications Policy · doi:10.1016/j.telpol.2015.07.012 · Cited by 34
Cheng, Y. (2020) · Journal of Asia Business Studies · doi:10.1108/jabs-05-2019-0142 · Cited by 34
Single-leader multi-follower games for the regulation of two-sided mobility-as-a-service markets
Xi, H., Aussel, D., Liu, W., Waller, S. T., & Rey, D. (2022) · European Journal of Operational Research · doi:10.1016/j.ejor.2022.06.041 · Cited by 34
“Thus we propose a name-your-own-price (NYOP) auction-based mechanism, where the user determines the price by submitting a bid and the auctioneer can either accept or reject the user by comparing with an internal threshold price which is invisible for users (Spann et al. 2004). Terwiesch et al. (2005) indicated that th…”
BackgroundA Long Way Coming: Designing Centralized Markets with Privately Informed Buyers and Sellers
Loertscher, S., Marx, L. M., & Wilkening, T. S. (2015) · Journal of Economic Literature · doi:10.1257/jel.53.4.857 · Cited by 33
“(59)Rochet and Tirole (2006) and Rysman (2009) provide surveys of this literature.”
BackgroundForking, Fragmentation, and Splintering
Simcoe, T. S., & Watson, J. (2019) · Strategy Science · doi:10.1287/stsc.2019.0094 · Cited by 34
Peer‐to‐peer local electricity market platform pricing strategies for prosumers
Teotia, F., Mathuria, P., & Bhakar, R. (2020) · IET Generation Transmission & Distribution · doi:10.1049/iet-gtd.2019.0578 · Cited by 25
Zhu, X., Yang, C., Liu, K., Zhang, R., & Jiang, Q. (2021) · Annals of Operations Research · doi:10.1007/s10479-021-04109-w · Cited by 33
“The two sets of users interact through such intermediary platforms to attain their profits (Rysman 2009; Bernstein et al. 2020).”
BackgroundEstimating Platform Market Power in Two-Sided Markets with an Application to Magazine AdvertisingPreprint
Song, M. (2011) · SSRN Electronic Journal · doi:10.2139/ssrn.1908621 · Cited by 33
“10 Re-arranging equations (12) and (13) gives ( pj − cj ) = −pj ( ∂sj ∂pj pj sj )−1 − ( pj − cj )(∂sBj ∂pj pj sj )( ∂sj ∂pj pj sj )−1 nB j nj (14) ( pj − cj ) = −pj ( ∂sj ∂pj pj sj )−1 − ( pj − cj )(∂sAj ∂pj pj sj )( ∂sj ∂pj pj sj )−1 nA j nj (15)”
BackgroundCong, L. W., Li, Y., & Wang, N. (2020) · National Bureau of Economic Research · doi:10.3386/w27810 · Cited by 33
Gastaldi, L., Appio, F. P., Trabucchi, D., Buganza, T., & Corso, M. (2024) · Information Systems Journal · doi:10.1111/isj.12491 · Cited by 32
“The platform facilitates a dynamic ecosystem wherein each group contributes distinct value to the others (Eisenmann et al., 2006; Rysman, 2018).”
BackgroundKeskin, T., & Kennedy, D. M. (2015) · Hawaii International Conference on System Sciences (HICSS) · doi:10.1109/hicss.2015.176 · Cited by 34
Platform economics and antitrust enforcement: A little knowledge is a dangerous thing
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On the Welfare Costs of Naiveté in the US Credit-Card Market
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How to overcome path dependency through resource reconfiguration
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Allen, B. J., Gretz, R. T., Houston, M. B., & Basuroy, S. (2021) · Journal of Marketing · doi:10.1177/00222429211017827 · Cited by 30
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Platform Collusion in Two-Sided Markets
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Digital enabler and value integration: revealing the expansion engine of digital marketplace
Almunawar, M. N., & Anshari, M. (2021) · Technology Analysis and Strategic Management · doi:10.1080/09537325.2021.1926967 · Cited by 32
“Price allocation strategy is a major topic discussed by many two-sided market researchers (Arm-strong 2006; King 2013; Parker and Van Alstyne 2005; Rochet and Tirole 2003; Roson 2005; Rysman 2009).”
BackgroundDesigning Entry Strategies for Subscription Platforms
Gal‐Or, E., & Shi, Q. (2022) · Management Science · doi:10.1287/mnsc.2021.4251 · Cited by 29
Switching Costs in Two‐Sided Markets
Lam, W. M. W. (2017) · Journal of Industrial Economics · doi:10.1111/joie.12133 · Cited by 30
Sharma, A., & Nicolau, J. L. (2019) · Tourism Management · doi:10.1016/j.tourman.2019.06.009 · Cited by 30
Marketplace or Reseller?Preprint
Hagiu, A., & Wright, J. (2014) · SSRN Electronic Journal · doi:10.2139/ssrn.2794585 · Cited by 30
The global digital platform economy and the region
Ács, Z. J. (2022) · The Annals of Regional Science · doi:10.1007/s00168-022-01154-6 · Cited by 33
Chen, W., Liu, Y., & Han, M. (2024) · Journal of Environmental Management · doi:10.1016/j.jenvman.2024.120417 · Cited by 29
A Short Survey of Network EconomicsPreprint
Shy, O. (2010) · SSRN Electronic Journal · doi:10.2139/ssrn.1600783 · Cited by 28
Managing conflicting revenue streams from advertisers and subscribers for online platforms
Li, X., Balasubramanian, H., Chen, Y., et al. (2023) · European Journal of Operational Research · doi:10.1016/j.ejor.2023.10.024 · Cited by 28
Third-Degree Price Discrimination in Two-Sided Markets
de Cornière, A., Mantovani, A., & Shekhar, S. (2024) · Management Science · doi:10.1287/mnsc.2023.02788 · Cited by 28
Platforms, systems competition, and innovation: Reassessing the foundations of communications policy
Bauer, J. M. (2014) · Telecommunications Policy · doi:10.1016/j.telpol.2014.04.008 · Cited by 28
“This technological perspective is related to but not identical with definitions that emphasize the economic features of platforms as linking different sides of a market (Rysman, 2009).”
MethodGretz, R. T., Malshe, A. V., Bauer, C., & Basuroy, S. (2019) · Journal of the Academy of Marketing Science · doi:10.1007/s11747-019-00631-3 · Cited by 27
“This self-reinforces the market, as a larger installed base encourages developers to create software for hardware with more end users (Clements 2004; Rysman 2009).”
BackgroundTaxation and the Peer-to-Peer Economy
Aslam, A., & Shah, A. (2017) · IMF Working Paper · doi:10.5089/9781484313763.001 · Cited by 32
The Expansion of Peer-to-Peer Lending
Havrylchyk, O., Mariotto, C., Rahim, T., et al. (2020) · Review of Network Economics · doi:10.1515/rne-2020-0033 · Cited by 28
Network effects on the iPhone platform: An empirical examination
Garcia‐Swartz, D. D., & Garcia-Vicente, F. (2015) · Telecommunications Policy · doi:10.1016/j.telpol.2015.07.011 · Cited by 27
Querbes, A. (2017) · Journal of Evolutionary Economics · doi:10.1007/s00191-017-0548-y · Cited by 29
“The regulations can also be public, for instance, platforms can face antitrust concerns (Rysman 2009).”
BackgroundWhat Drives the Expansion of the Peer-to-Peer Lending?Preprint
Havrylchyk, O., Mariotto, C., & Rahim, T.-U. (2016) · SSRN Electronic Journal · doi:10.2139/ssrn.2841316 · Cited by 28
“As in many other two-sided markets (Rysman, 2009), online lending marketplaces try to attract two different groups of users, namely borrowers and investors, by choosing an appropriate structure of fees that increases the size of network effects.”
Can We Predict the Winner in a Market with Network Effects? Competition in Cryptocurrency MarketPreprint
Gandal, N., & Hałaburda, H. (2016) · SSRN Electronic Journal · doi:10.2139/ssrn.2832836 · Cited by 28
Platform Compatibility and Developer Multihoming: A Trade-off Perspective
Tian, J., Zhao, X., & Xue, L. (2022) · MIS Quarterly · doi:10.25300/misq/2022/16369 · Cited by 26
Sun, R., & Gregor, S. D. (2023) · The Journal of Strategic Information Systems · doi:10.1016/j.jsis.2023.101791 · Cited by 33
Technology Shocks in Multi-Sided Markets: The Impact of Craigslist on Local Newspapers
Seamans, R., & Zhu, F. (2010) · Faculty Digital Archive (New York University Florence) · Cited by 28
Geschäftsmodellelemente mehrseitiger Plattformen
Taeuscher, K., Hilbig, R., & Abdelkafi, N. (2016) · Springer eBooks · doi:10.1007/978-3-658-12388-8_7 · Cited by 27
Innovation process in the business ecosystem: the four cooperations practices in the media platform
Lee, Y. W., Moon, H., & Yin, W. (2020) · Business Process Management Journal · doi:10.1108/bpmj-11-2019-0473 · Cited by 33
Duong, H. L., Chu, J., & Yao, D. (2022) · Management Science · doi:10.1287/mnsc.2022.4349 · Cited by 27
The pass-through of temporary VAT rate cuts: evidence from German supermarket retail
Fuest, C., Neumeier, F., & Stöhlker, D. (2024) · International Tax and Public Finance · doi:10.1007/s10797-023-09824-7 · Cited by 49
Compatibility and the Product Life Cycle in Two-Sided Markets
Maruyama, M., & Zennyo, Y. (2013) · Review of Network Economics · doi:10.1515/rne-2013-0011 · Cited by 26
“The similar result has been shown in Schiff (2003) and Doganoglu and Wright (2006).”
BackgroundResultFarrell, J., & Simcoe, T. S. (2012) · Oxford University Press eBooks · doi:10.1093/oxfordhb/9780195397840.013.0002 · Cited by 32
“…network effects by allowing externalities and access prices to vary across different user groups.2 2 See David and Greenstein (1990) or Shapiro and Varian (1998) for a review of the early literature on network effects, and Rysman (2009) for a review of the nascent literature on two‐sided markets.”
BackgroundGAFAnomy (Google, Amazon, Facebook and Apple): The Big Four and the b-Ecosystem
Miguel, J. C., & Casado, M. Á. (2016) · Springer eBooks · doi:10.1007/978-3-319-31147-0_4 · Cited by 27
Defining the relevant market in the sharing economy
Russo, F., & Stasi, M. L. (2016) · Internet Policy Review · doi:10.14763/2016.2.418 · Cited by 27
“For other products, such as clothes and electronics, Amazon acts as the provider of a web portal for producers who set their retail prices directly (Rysman, 2009; Broos and Ramos, 2015).”
BackgroundSupplier, Tailor, and Facilitator: Typology of Platform Business Models
Kim, J., & Min, J. (2019) · Journal of Open Innovation Technology Market and Complexity · doi:10.3390/joitmc5030057 · Cited by 29
“These platform companies incur costs by serving multiple groups and collect revenue from various sides [52].”
BackgroundDynamic Causal Effects Evaluation in A/B Testing with a Reinforcement Learning Framework
Shi, C., Wang, X., Luo, S., Hongtu Zhu, B., Ye, J., & Song, R. (2022) · Journal of the American Statistical Association · doi:10.1080/01621459.2022.2027776 · Cited by 29
“These companies form a typical two-sided market that enables efficient interactions between passengers and drivers (Rysman 2009).”
BackgroundGovernment Failure — Four Types
Dolfsma, W. A. (2011) · Journal of Economic Issues · doi:10.2753/jei0021-3624450304 · Cited by 26
“Doing so would, however, ignore the nature of this market as a two-sided market (Dolfsma and Nahuis 2006; Rysman 2009).”
Collaborative consumption, a buzzword that has gone conceptual: Three shades of the sharing economy
Ertz, M. (2020) · Oikonomics · doi:10.7238/o.n14.2011 · Cited by 26
The Efficiency of A Dynamic Decentralized Two-Sided Matching MarketPreprint
Liu, T. W. B., Wan, Z., & Yang, C. (2019) · SSRN Electronic Journal · doi:10.2139/ssrn.3339394 · Cited by 24
The Evolution of the Global Digital Platform Economy: 1971-2021Preprint
Ács, Z. J., Song, A., Szerb, L., et al. (2021) · SSRN Electronic Journal · doi:10.2139/ssrn.3785411 · Cited by 26
Mergers Between On-Demand Service Platforms: The Impact on Consumer Surplus and Labor Welfare
Lin, X., Lu, T., Wang, X., & Kou, G. (2025) · Information Systems Research · doi:10.1287/isre.2022.0553 · Cited by 25
Platform Growth Model: The Four Stages of Growth Model
Kim, J., & Yoo, J. (2019) · Sustainability · doi:10.3390/su11205562 · Cited by 27
“From a business economics standpoint, a platform business comprises three theoretical concepts—a two-sided market [7,17,29], the network effect and a business ecosystem—that are key to its systematic nature [3,6,7,19,30–32].”
BackgroundWagner, D. N. (2020) · Telecommunications Policy · doi:10.1016/j.telpol.2020.101954 · Cited by 28
Entrepreneurial dynamics in two-sided platforms: the influence of sides in the case of Friendz
Trabucchi, D., & Buganza, T. (2021) · International Journal of Entrepreneurial Behaviour & Research · doi:10.1108/ijebr-01-2021-0076 · Cited by 26
Connected television: Media Convergence, Industry Structure, and Corporate Strategies
Murschetz, P. C. (2016) · Annals of the International Communication Association · doi:10.1080/23808985.2015.11735256 · Cited by 25
“doi: 10.2307/2233907 Schneider, V. (2012). Governance and complexity. In D. Levi-Faur (Ed.), Oxford handbook of governance (pp. 129–142). Oxford: Oxford University Press. Silverstone, R. (1995). Convergence is a dangerous word: Convergence.”
BackgroundInfluentialPiezunka, H. (2011) · Journal für Betriebswirtschaft · doi:10.1007/s11301-011-0078-x · Cited by 24
Garz, S., Xavier Giné, A., Karlan, D., Mazer, R., Sanford, C., & Zinman, J. (2020) · National Bureau of Economic Research · doi:10.3386/w28262 · Cited by 26
Parker, G., & Van Alstyne, M. (2016) · The Palgrave Encyclopedia of Strategic Management · doi:10.1057/978-1-349-94848-2_435-1 · Cited by 25
Inoue, Y., & Tsujimoto, M. (2017) · International Journal of Innovation Management · doi:10.1142/s1363919618500044 · Cited by 23
Value of membership‐based free shipping in online retailing: Impact of upstream pricing model
Sun, G., Cavusoglu, H., & Raghunathan, S. (2022) · Production and Operations Management · doi:10.1111/poms.13810 · Cited by 25
“…we study could be viewed as a platform, in that, it facilitates transactions between sellers and consumers, online retailers are not regarded as multisided platforms (Rochet & Tirole, 2006; Rysman, 2009) because they lack the key features of multisided platforms, such as network effects.”
BackgroundVisible hands: How gig companies shape workers' exposure to market risk
Maffie, M. D. (2023) · Industrial Relations A Journal of Economy and Society · doi:10.1111/irel.12337 · Cited by 23
Expert-mediated sequential search
Chhabra, M., Das, S., & Sarne, D. (2013) · European Journal of Operational Research · doi:10.1016/j.ejor.2013.10.033 · Cited by 24
“We find that the platform can increase social welfare by subsidizing access to expert services, and that social welfare is maximized when consumers pay exactly the marginal cost of production of expert services.”
BackgroundImperfect Platform Competition: A General Framework ∗
White, A., & Weyl, E. G. (2010) · Faculty Digital Archive (New York University Florence) · Cited by 20
Market entry strategy for a digital platform provider
Kim, J. (2018) · Baltic Journal of Management · doi:10.1108/bjm-07-2017-0228 · Cited by 24
Explaining Adoption and Use of Payment Instruments by U.S. ConsumersPreprint
Koulayev, S., Rysman, M., Schuh, S. D., et al. (2015) · SSRN Electronic Journal · doi:10.2139/ssrn.2564176 · Cited by 24
Self-citationWibisono, E. (2023) · European Planning Studies · doi:10.1080/09654313.2023.2202683 · Cited by 28
“Subsequent ecosystem literature, such as entrepreneurial ecosystems, digital ecosystems, and platform ecosystems, developed along this main conceptual stream (Isenberg 2010; Rysman 2009; Stam 2015; Weill and Woerner 2015).”
BackgroundMoney for Nothing and Content for Free?
Wellbrock, C.-M., & Buschow, C. (2020) · Nomos Verlagsgesellschaft mbH & Co. KG eBooks · doi:10.5771/9783748907251 · Cited by 28
“(Rysman, 2009).”
BackgroundInfluentialPricing strategy for own shipping service of E-commerce platform using Two-sided market theory
Kim, G., Wang, W., & Ha, H.-K. (2021) · Electronic Commerce Research and Applications · doi:10.1016/j.elerap.2021.101088 · Cited by 23
Ozer, G. T., Greenwood, B. N., & Gopal, A. (2022) · Information Systems Research · doi:10.1287/isre.2022.1126 · Cited by 23
Driver collusion in ride‐hailing platforms
Tripathy, M., Bai, J., & Heese, H. S. (2022) · Decision Sciences · doi:10.1111/deci.12561 · Cited by 22
Catch me if you can: A simulation model of the internationalization of digital platforms
Canal, E. G., Guillén, M. F., & Ponte, B. (2024) · Information and Organization · doi:10.1016/j.infoandorg.2024.100501 · Cited by 23
Platform optimal capacity sharing: Willing to pay more does not guarantee a larger capacity share
Aloui, C., & Jebsi, K. (2016) · Economic Modelling · doi:10.1016/j.econmod.2016.01.003 · Cited by 23
Two-sided platform competition with multihoming agents: An empirical study on the daily deals market
Kim, B.-C., Lee, J. J., & Park, H. (2017) · Information Economics and Policy · doi:10.1016/j.infoecopol.2017.06.006 · Cited by 23
“…markets, in which the relative strength of an entrant’s indirect network 2The literature is too vast to be concisely summarized here and thus we refer to several survey articles and references therein such as Rochet and Tirole (2006), Roson (2005), and Rysman (2009) for comprehensive reviews.”
Platform Adoption Factors in the Internet Industry
Kim, J. (2018) · Sustainability · doi:10.3390/su10093185 · Cited by 24
“A platform business model is likely to involve a transaction occurring in a two-sided market [28], in which various stakeholders can join the platform as part of the supply or demand side [9,29,30].”
BackgroundThe Credit Rating Agencies and Their Role in the Financial System
White, L. J. (2019) · Oxford University Press eBooks · doi:10.1093/oxfordhb/9780190900571.013.38 · Cited by 23
“For an overview of the economics of two-sided markets, see, for example, Rochet and Tirole (2006) and Rysman (2009).”
Pistor, K. (2020) · Constellations · doi:10.1111/1467-8675.12475 · Cited by 23
Boudreau, K. J. (2008) · SSRN Electronic Journal · doi:10.2139/ssrn.1251167 · Cited by 25
When Do Startups Scale? Large-scale Evidence from Job PostingsPreprint
Lee, S., & Kim, J. D. (2022) · SSRN Electronic Journal · doi:10.2139/ssrn.4015530 · Cited by 22
Spatial pricing of ride-sourcing services in a congested transportation network
Afifah, F., & Guo, Z. (2022) · Transportation Research Part C Emerging Technologies · doi:10.1016/j.trc.2022.103777 · Cited by 22
“are closely related to research on taxi (e.g., (Yang and Wong, 1998; Lagos, 2000; Yang et al., 2010; Yang and Yang, 2011; He et al., 2018)) and two-sided marketplace (e.g., Rochet and Tirole (2006); Rysman (2009)). Given an increasingly large body of literature, we focus on the pricing issues in the context of ride-so…”
BackgroundPlatform Takeoff and Self-Fulfilling Expectations: Field Experimental Evidence
Boudreau, K. J. (2020) · Management Science · doi:10.1287/mnsc.2021.3999 · Cited by 24
“Endnotes 1 Rysman (2009) and Rietveld and Schilling (2020) provide surveys on research on platforms.”
The rise of the sharing economy
Basselier, R., Langenus, G., & Walravens, L. (2018) · RePEc: Research Papers in Economics · Cited by 41
Late industrialisation and global value chains under platform capitalism
Naudé, W. A. (2022) · Journal of Industrial and Business Economics · doi:10.1007/s40812-022-00240-2 · Cited by 25
“The literature on the economics of digital platforms as leveraging transactions on multiple sides has emphasised their strategies to increase the number of users on the platform (Rysman, 2009).”
BackgroundPlatforms and incentives for consensus building on complex ICT systems: The development of WiFi
van de Kaa, G., & de Bruijn, H. (2015) · Telecommunications Policy · doi:10.1016/j.telpol.2014.12.012 · Cited by 22
“They enable two and multi-sided markets (Rochet & Tirole, 2003; Rysman, 2009), allowing various actors including platform users, complementors, platform providers, and platform sponsors to connect (Eisenmann, Parker, & van Alstyne, 2009; Suarez & Kirtley, 2012).”
BackgroundTransition to Digital Distribution Platforms and Business Model Evolution
Baber, W. W., Ojala, A., & Martínez, R. (2019) · Hawaii International Conference on System Sciences (HICSS) · doi:10.24251/hicss.2019.600 · Cited by 22
“Neither party will be interested if both parties are not [44].”
Background
Metadata
- Authors
- Rysman, M.
- Affiliations
- Boston University (US)
- Corresponding author
- Rysman, Marc
- ORCID
- Rysman, Marc
- Venue
- Journal of Economic Perspectives
- Publisher
- American Economic Association
- Published
- 2009-08-01
- Volume
- 23
- Issue
- 3
- Pages
- 125-143
- ISSN
- 0895-3309 (ISSN-L)
- OpenAlex
- W1982461819
- Semantic Scholar
- 1c0c366611a5049d783edb97c8fce22b666c4622
- Cited by
- 1,261
- References
- 71
- Citations by year
- 2026: 68 · 2025: 74 · 2024: 77 · 2023: 93 · 2022: 85 · 2021: 95 · 2020: 124 · 2019: 92 · 2018: 87 · 2017: 70 · 2016: 81 · 2015: 57 · 2014: 72 · 2013: 76 · 2012: 47
- FWCI
- 103.49
- Type
- journal article
- Language
- en
- Open access
- hybrid
- doi.org
- Licence
- other-oa
- Locations
- The Journal of Economic Perspectives (publishedVersion, other-oa)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Digital Platforms and Economics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Merger and Competition Analysis
- Social Sciences › Business, Management and Accounting › Marketing › Consumer Market Behavior and Pricing
- Keywords
- two-sided markets, platform intermediaries, network effects, externalities, payment cards, video game consoles, operating systems, competition policy, regulation, public policy, consumer electronics, search engines
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