İktisat Teorisinde İki Taraflı Piyasalar

Abstract

İki taraflı piyasalar talep yapısı birbirinden farklı ve aralarında dolaylı ağ etkileri bulunan iki farklı guruba eş anlı olarak hizmet veren piyasa yapılarıdır. Teknolojik yenilikler ve internet ekonomisindeki ilerlemelerle ekonomilerin önemli bir parçası haline gelen bu piyasalar geleneksel iktisat teorisi kabullerinden oldukça farklı özellikler gösterebilmektedirler. Geleneksel analizlerde zararlı olabilecek bazı stratejiler, iki taraflı piyasalarda herhangi bir zarar vermeyebilir. Aynı şekilde geleneksel analizlerde olumlu olarak değerlendirilebilecek bazı stratejiler, bu piyasalarda kullanıldığında ters etkiler gösterebilir ve tüketici refahını olumsuz yönde etkileyebilirler. Yani netice itibari ile iki taraflı piyasaların analiz ve değerlendirilmesi kendine has karakteristikleri dikkate alınarak yapılmalıdır. Bu bağlamda bu çalışma iki taraflı piyasaları ele alarak tanım, sınıflandırma, ağ etkileri, fiyatlandırma, piyasa başarısızlıkları ve kamu müdahalesi gibi öne çıkan temel iktisat teorisi konularını bu piyasalar özelinde tartışmaktadır.

Keywords

• İki Taraflı Piyasalar
• Platformlar
• İktisat Teorisi
• Dolaylı Ağ Etkileri
• Fiyatlandırma Yapısı

Two-Sided Markets in Economic Theory

Abstract

Two-sided markets are market structures that simultaneously serve two different groups with different demand structures and indirect network effects between them. These markets, which have become an important part of economies with technological innovations and advances in the internet economy, may exhibit quite different characteristics from traditional economic theory acceptances. Some strategies that may be harmful in the traditional analysis may not cause any harm in two-sided markets. Likewise, some strategies that can be considered positively in traditional analyzes, when used in these markets, may have adverse effects and negatively affect consumer welfare. As a result, the analysis and evaluation of two-sided markets should be made taking into account their unique characteristics. In this context, this study deals with two-sided markets and discusses prominent basic economic theory issues such as definition, classification, network effects, pricing, market failures, and public intervention in these markets.

Keywords

• Two-sided Markets
• Platforms
• Economic Theory
• Indirect Network Effects
• Pricing Structure

References

1. ALEXANDROV, A., DELTAS, G., ve SPULBER, D. F. (2011). Antitrust and competition in two-sided markets. Journal of Competition Law and Economics, 7(4), 775-812.
2. AMBRUS, A., CALVANO, E., ve REISINGER, M. (2016). Either or both competition: A two-sided theory of advertising with overlapping viewerships. American Economic Journal: Microeconomics, 8(3), 189-222.
3. ARMSTRONG, M. ve WRIGHT, J. (2007). Two-sided markets, competitive bottlenecks and exclusive contracts. Economic Theory, 32(2), 353-380.
4. ARMSTRONG, M. (2006). Platform competition in two-sided markets. RAND Journal of Economics, 37(3), 668-691.
5. BOLT, W. ve TIEMAN, A. F. (2008). Heavily skewed pricing in two-sided markets. International Journal of Industrial Organization, 26, 1250-1255
6. CABRAL, L. (2019). Towards a theory of platform dynamics. Journal of Economics & Management Strategy, 28(1), 60-72.
7. CAILLAUD, B. ve JULLIEN, B. (2003). Chicken & egg: Competition among ıntermediation service providers. RAND Journal of Economics, 34(2), 309-328.
8. CHINTAKANANDA, A. ve MCINTYRE, D. P. (2014). Market entry in the presence of network effects: A Real options perspective. Journal of Management, 40(6), 1535–1557.

9. DENNIS W. ve NADIMI, S. (2019). A note on price regulation in two-sided markets. Economics Bulletin, 39(4), 2766-2777.
10. ECONOMIDES, N. ve KATSAMAKAS, E. (2006). Two-sided competition of proprietary vs. open source technology platforms and the ımplications for the software ındustry. Management Science, 52(7), 1057-1071.
11. ECONOMIDES, N. ve TÅG, J. (2012). Network neutrality on the ınternet: a two-sided market analysis. Information Economics and Policy, 24(2), 91-104.
12. EISENMANN, T., GEOFFREY, P. VE VAN ALSTYNE, M. (2006). Strategies for two-sided markets. Harvard Business Review, 84(10), 92-98.
13. EVANS, S. D. (2003a). The Antitrust Economics of Multi-Sided Platform Markets. Yale Journal on Regulation, 20: 325-431.
14. EVANS, S. D. (2003b). Some empirical aspects of multi-sided platform ındustries. Review of Network Economics, 2(3), 191-209.
15. EVANS, S. D. (2011). Platform Economics: Essays on Multi-Sided Businesses. Boston: Competition Policy International.
16. EVANS, S. D. ve NOEL, M. D. (2008). The analysis of mergers that ınvolve multisided platform businesses. Journal of Competition Law and Economics, 4(3), 663-695.
17. EVANS, S. D. ve SCHMALENSEE, R. (2005). The Industrial Organization of Markets with Two-Sided Platforms. Technical Report, Cambridge: National Bureau of Economic Research.
18. EVANS, S. D. ve SCHMALENSEE, R. (2013). The antitrust analysis of multi-sided platform businesses technical report. Cambridge: National Bureau of Economic Research.
19. FARHI, E. ve HAGIU, A. (2008). Strategic ınteractions in two-sided market oligopolies. Harvard Business School, Working Paper N. 08-011.
20. FARRELL, J. ve SALONER, G. (1985). Standardization, compatibility, and ınnovation. The RAND Journal of Economics, 16(1), 70-83.
21. FARRELL, J. ve KLEMPERER, P. (2007). Coordination and lock-ın: competition with switching costs and network effects. in M. Armstrong and R. Porter (eds.) Handbook of Industrial Organization, Vol.3, Elsevier.
22. FILISTRUCCHI, L. (2008). A SSNIP test for two-sided markets: The case of media. NET Institute Working Paper, No. 08-34
23. FILISTRUCCHI, L. ve KLEIN, T. J. (2013). Price competition in two-sided markets with heterogeneous consumers and network effects. NET Institute Working Paper, No: 13-20
24. FILISTRUCCHI, L., GERADIN D. ve VAN DAMME, E. (2013). Identifying Two-Sided Markets. World Competition, 36(1): 33-59.
25. FILISTRUCCHI, L., KLEIN, T. J. ve MİCHİELSEN, T. (2012). Assessing unilateral merger effects in a two-sided market: an application to the dutch daily newspaper market. Journal of Competition Law and Economics, 8(2), 297-329.
26. FLETCHER, A. (2007). Predatory pricing in two-sided markets: A brief comment. Competition Policy International, 3(1), 221-226.
27. GENAKOS, C. ve VALLETTI, T. (2012). Regulating prices in two-sided markets: The waterbed experience in mobile telephony. Telecommunications Policy, 36(5), 360-368.
28. GOOS, M., CAYSEELE, V. ve WILLEKENS, B. (2011). Platform pricing in matching markets. Review of Network Economics, 12(4), 437-457.
29. HAGIU, A. ve HAŁABURDA, H. (2014). Information and two-sided platform profits. International Journal of Industrial Organization, 34, 25-35.
30. HAGIU, A. ve WRIGHT, J. (2015). Multi-sided platforms. International Journal of Industrial Organization, 43, 162-174.
31. HALABURDA, H. ve YEHEZKEL, Y. (2013). Platform competition under asymmetric ınformation. American Economic Journal: Microeconomics, 5(3), 22-68.
32. JULLIEN, B. ve SAND‐ZANTMAN, W. (2019). The economics of platforms: A theory guide for competition policy. TSE Digital Center Policy Papers Series, 1-41.
33. KAISER, U. ve WRIGHT J., (2006). Price structure in two-sided markets: evidence from the magazine ındustry. International Journal of Industrial Organization, 24(1), 1-28.
34. KATZ, L. M. ve SHAPIRO, C. (1985). Network Externalities, Competition, And Compatibility. The American Economic Review, 75(3): 424-440.
35. KLEIN, B., LERNER, A. V., MURPHY, K. M. ve PLACHE, L. L. (2006). Competition in two-sided markets: the antitrust economics of payment card ınterchange fees. Antitrust Law Journal, 73(3), 571-626.
36. LIEBOWITZ, J. S. ve MARGOLIS, S. (1998). Network effects and externalities. In: Newman P. (eds) The New Palgrave Dictionary of Economics and the Law. London: Palgrave Macmillan.
37. OECD (2009). Two-Sided Markets. Technical Report, Policy Roundtables. Competition Law and Policy, Paris:OECD.
38. PARKER, G. G. ve ALSTYNE, M. W. (2000). Internetwork Externalities and free ınformation goods. In Proceedings of the 2nd ACM Conference on Electronic Commerce, 107-116.
39. ROCHET, J. ve TIROLE, J. (2003). Platform competition in two-sided markets. Journal of the European Economic Association, 1(4), 990-1029.
40. ROCHET, J. ve TIROLE, J. (2006). Two-sided markets: a progress report. RAND Journal of Economics, 37(3), 645-667.
41. RYSMAN, M. (2009). The economics of two-sided markets. The Journal of Economic Perspectives, 23(3), 125-143.
42. SAMUELSON, P. A. ve NORDHAUS, W. D. (1992). Economics. 14th ed. New York, NY: McGraw-Hill.
43. SCHMALENSEE, R. ve EVANS, S. D. (2007). Industrial organization of markets with two-sided platforms. Competition Policy International, 3(1),151-179
44. SHANKAR, V. ve BAYUS, B. L. (2003). Network effects and competition: an empirical analysis of the home video game ındustry. Strategic Management Journal, 24, 375-384.
45. SRINIVASAN, A. ve VENKAMATRA, N. (2010). Indirect network effects and platform dominance in the video game industry: A network perspective. IEEE Transactions on Engineering Management, 57(4), 661-673.
46. STREMERSCH, S., TELLIS, G. J., HANS, F. P. ve BINKEN, J. L.G. (2007). Indirect network effects in new product growth. Journal of Marketing, 71 (July), 52–74.
47. WANG, Z. (2016). Price cap regulation in two-sided markets: ıntended and unintended consequences. International Journal of Industrial Organization, 45, 28-37.
48. WEISMAN, D. L. ve KULICK, R. B. (2010). Price discrimination, two-sided markets, and net neutrality regulation. Tulane Journal of Technology and Intellectual Property, 13, 81-106.
49. WEYL, E. G. (2010). A price theory of multi-sided platforms. The American Economic Review, 100(4), 1642-1672.
50. WRIGHT, J. (2004). One-Sided Logic in Two-Sided Markets. Review of Network Economics, 3(1): 42-63.
51. ZHU, F. ve IANSITI, M. (2012). Entry into platform-based markets. Strategic Management Journal, 33(1), 88-106.