价值捕获
收入
用户生成的内容
计算机科学
估价(财务)
业务
网络效应
价值(数学)
产业组织
商业模式
微观经济学
营销
经济
万维网
社会化媒体
会计
机器学习
作者
Hemang Subramanian,Sabyasachi Mitra,Sam Ransbotham
出处
期刊:Organization Science
[Institute for Operations Research and the Management Sciences]
日期:2021-05-01
卷期号:32 (3): 804-823
被引量:6
标识
DOI:10.1287/orsc.2020.1408
摘要
Business models increasingly depend on inputs from outside traditional organizational boundaries. For example, platforms that generate revenue from advertising, subscription, or referral fees often rely on user-generated content (UGC). But there is considerable uncertainty on how UGC creates value—and who benefits from it—because voluntary user contributions cannot be mandated or contracted or its quality assured through service-level agreements. In fact, high valuations of these platform firms have generated significant interest, debate, and even euphoria among investors and entrepreneurs. Network effects underlie these high valuations; the value of participation for an individual user increases exponentially as more users actively participate. Thus, many platform strategies initially focus on generating usage with the expectation of profits later. This premise is fraught with uncertainty because high current usage may not translate into future profits when switching costs are low. We argue that the type of user-generated content affects switching costs for the user and, thus, affects the value a platform can capture. Using data about the valuation, traffic, and other parameters from several sources, empirical results indicate greater value uncertainty in platforms with user-generated content than in platforms based on firm-generated content. Platform firms are unable to capture the entire value from network effects, but firms with interaction content can better capture value from network effects through higher switching costs than firms with user-contributed content. Thus, we clarify how switching costs enable value for the platform from network effects and UGC in the absence of formal contracts.
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