Management and Economics of Platforms

Karteikarten und Zusammenfassungen für Management and Economics of Platforms an der LMU München

Arrow Arrow

Komplett kostenfrei

studysmarter schule studium
d

4.5 /5

studysmarter schule studium
d

4.8 /5

studysmarter schule studium
d

4.5 /5

studysmarter schule studium
d

4.8 /5

Lerne jetzt mit Karteikarten und Zusammenfassungen für den Kurs Management and Economics of Platforms an der LMU München.

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

first-party complementors can generate three scenarios

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

First party vs. third party complementors

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

Indirect network externalities (cross-side or cross-group externalities)

Positive

Negative

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

Direct network effects

Positive

Negative

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

Transactions costs can be classified in three groups

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

Transactions costs

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

Two-sided markets can be categorized:
Demand coordinators

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

Two-sided markets can be categorized:
Market-makers

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

Two-sided markets can be categorized:
Audience-makers

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

One sided market (or traditional market)

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

Standard battles

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

Intra-generational compatibility

Kommilitonen im Kurs Management and Economics of Platforms an der LMU München. erstellen und teilen Zusammenfassungen, Karteikarten, Lernpläne und andere Lernmaterialien mit der intelligenten StudySmarter Lernapp. Jetzt mitmachen!

Jetzt mitmachen!

Flashcard Flashcard

Beispielhafte Karteikarten für Management and Economics of Platforms an der LMU München auf StudySmarter:

Management and Economics of Platforms

first-party complementors can generate three scenarios

No impact
The integration has no if little effect on third-party complementors and users can still
complete the same tasks without major change and effort
• Δ0 in the demand of third-party complements AND ↑ demand of first-party
complements

Substitution effect
Users derive additional utility from the tighter integration between the platform owner
and first-party complementors à substitution effect
• ↓ demand of third-party complements AND ↑ demand of first-party
complements

Indirect positive spillovers
The integration fosters sharing as a common behavior among users à indirect
positive spillovers on third-party complements
• ↑ demand of third-party complements AND ↑ demand of first-party
complements

Management and Economics of Platforms

First party vs. third party complementors

The platform owner has the alternative to engage with first-party complementors (FPC) or thirdparty
complementors (TPC).

While third-party complementors are independent producers/developers from the platform, firstparty
complementors are offered by the platform owner on its own marketplace.

Management and Economics of Platforms

Indirect network externalities (cross-side or cross-group externalities)

Positive

Negative

Indirect network externalities (cross-side or cross-group externalities)
when members of at least one group have a preference regarding the number of users in the
other group.

Positive
“I choose Visa rather than Mastercard because there are more merchants accepting Visa where
I live”

Negative
“I use DailyMotion rather than Youtube because there is too much advertising on Youtube”

Management and Economics of Platforms

Direct network effects

Positive

Negative

Direct network effects
when each group’s members have references regarding the number of users in their own group.

Positive
“I prefer to purchase games on Steam rather than on Epic Games because most of my friends
use Steam and I like to communicate with them via the chat provided by the platform.”

Negative
“I only develop mobile games for iOS because there are already a lot developed for Android,
what would make competition tough.”

Management and Economics of Platforms

Transactions costs can be classified in three groups

Search and information costs, which are related to the effort needed to compare prices
and quality of available alternatives.

Bargaining costs, which are related to the effort needed to find a good agreement with
the other agent.

Policing and enforcement costs
, which are related to ensuring that the other agent sticks to the contract and, if not, taking actions.

Management and Economics of Platforms

Transactions costs

Transactions costs are costs incurred by agents when making an economic exchange.

Management and Economics of Platforms

Two-sided markets can be categorized:
Demand coordinators

do not strictly sell transaction. They make goods and services which
generate indirect network effects.
• E.g. Payment systems, video games consoles, operating systems.

Management and Economics of Platforms

Two-sided markets can be categorized:
Market-makers

enable members of distinct groups to transact with each others.
• E.g. Marketplaces, online dating, interim employment agency.

Management and Economics of Platforms

Two-sided markets can be categorized:
Audience-makers

match advertisers to audiences.
• E.g. Web search, social media, newspapers.

Management and Economics of Platforms

One sided market (or traditional market)
  1. A firm supplies a good or a service.
  2. Price depends on the cost structure of the firm, the competitive environment and the elasticity of demand.

Consumers choose to buy or not the good. Their decision depends on their tastes and budget constraints.

Management and Economics of Platforms

Standard battles

Circumstances of a Standard Battle
§ In a standard battle multiple firms compete for the market and not in the market.
§ A standard battle is more likely if
• firms are symmetric in their market and technology positions,
• the standards battle does not delay consumer acceptance of the technology, and
• intra-technology competition is likely to dissipate potential industry profits.

In a standard battle, firms can use the following strategies
§ Establishing a large installed base quickly and visibly e.g. by dynamic or penetration pricing
§ Public commitments to low prices over the long term
§ Managing consumers’ expectations
§ Strategic pre-announcement
§ Improve the relative qualities of the own technology
§ Offering a sufficient supply of complementary goods
§ Pre-emption (trade off between quality and timing)
§ Licensing to build up a critical mass of hard- and/or software
§ Acquiring a rival firm

Management and Economics of Platforms

Intra-generational compatibility

Compatibility choices affect competitors

• Compatibility is achieved by fixing a number of product characteristics such that products are
interoperable.

• With perfect compatibility network effects are equalized across technologies since users of all
networks can make use of the other networks.

• Once an installed base of consumers has been established, decreasing compatibility has the
same effect as increasing product differentiation and therefore softening competition.

Melde dich jetzt kostenfrei an um alle Karteikarten und Zusammenfassungen für Management and Economics of Platforms an der LMU München zu sehen

Singup Image Singup Image
Wave

Andere Kurse aus deinem Studiengang

Für deinen Studiengang Betriebswirtschaftslehre an der LMU München gibt es bereits viele Kurse auf StudySmarter, denen du beitreten kannst. Karteikarten, Zusammenfassungen und vieles mehr warten auf dich.

Zurück zur LMU München Übersichtsseite

Makro

Strategic Marketing

Selected Topics in Organizational Behavior

Management and Economics of Network Industries (Technology and Innovation)

Wissenschaftstheorie

Managing the Front End of Innovation (Technology & Innovation)

Marketing & Strategy

Recht

Management of digital technologies

Managing the Front End of Innovation

Technik des betrieblichen Rechnungswesens

Mikroökonomie

Unternehmensrechnung

Statistik

Digital Media & Business

Kommunikationswissenschaften

Einführung in die PR

Unternehmensrechnung

Externes Rechnungswesen

Was ist StudySmarter?

Was ist StudySmarter?

StudySmarter ist eine intelligente Lernapp für Studenten. Mit StudySmarter kannst du dir effizient und spielerisch Karteikarten, Zusammenfassungen, Mind-Maps, Lernpläne und mehr erstellen. Erstelle deine eigenen Karteikarten z.B. für Management and Economics of Platforms an der LMU München oder greife auf tausende Lernmaterialien deiner Kommilitonen zu. Egal, ob an deiner Uni oder an anderen Universitäten. Hunderttausende Studierende bereiten sich mit StudySmarter effizient auf ihre Klausuren vor. Erhältlich auf Web, Android & iOS. Komplett kostenfrei. Keine Haken.

Awards

Bestes EdTech Startup in Deutschland

Awards
Awards

European Youth Award in Smart Learning

Awards
Awards

Bestes EdTech Startup in Europa

Awards
Awards

Bestes EdTech Startup in Deutschland

Awards
Awards

European Youth Award in Smart Learning

Awards
Awards

Bestes EdTech Startup in Europa

Awards

So funktioniert's

Top-Image

Individueller Lernplan

StudySmarter erstellt dir einen individuellen Lernplan, abgestimmt auf deinen Lerntyp.

Top-Image

Erstelle Karteikarten

Erstelle dir Karteikarten mit Hilfe der Screenshot-, und Markierfunktion, direkt aus deinen Inhalten.

Top-Image

Erstelle Zusammenfassungen

Markiere die wichtigsten Passagen in deinen Dokumenten und bekomme deine Zusammenfassung.

Top-Image

Lerne alleine oder im Team

StudySmarter findet deine Lerngruppe automatisch. Teile deine Lerninhalte mit Freunden und erhalte Antworten auf deine Fragen.

Top-Image

Statistiken und Feedback

Behalte immer den Überblick über deinen Lernfortschritt. StudySmarter führt dich zur Traumnote.

1

Lernplan

2

Karteikarten

3

Zusammenfassungen

4

Teamwork

5

Feedback