In recent years many contributors expanded the economic literature about network externalities exploring the specific case of two-sided markets. Several markets have been used as examples such as payment card system and newspapers. Researchers pointed out that not all these examples are based on the same structure in term of transactions enabled by the platform and an internal distinction has been proposed. This thesis aims at investigating the two-sided market classification (re-named in transactional type and orthogonal type) and more specifically it focuses on the effects of two technological waves on the proposed classification. Two-sided markets are based on huge information streams to coordinate the two different sides; Internet and smartphone impacted dramatically on the information technology industry and their impact on these markets is going to be observed in this work. Given the exploratory nature of the thesis the case study approach has been chosen. The first main result from data analysis is the identification of a new strategy to generate and capture value in orthogonal two-sided markets. Internet based companies, like Twitter, started to create economic value considering users as a source and not only as a target, selling data that can be used for data mining and sentiment analysis. Smartphones can be considered as aggregates of sensors that can collect a huge quantity of data, but also a huge variety of data, enabling orthogonal two-sided players to apply this Client-As-a-Source perspective far beyond the virtual world, using real-time data coming from the real world. Think about UP, an activity-tracker wristband (working with a smartphone) that gathers physical data about sleep patterns and bring them in the virtual world. These data have a huge medical value, enabling researches with a lower cost per data. This kind of product or service opens up opportunities for trading data to third-party companies (i.e. pharmaceutical companies). The thesis analyzes the impacts of the two technological waves on the two-sided market structure, underling this new Client-As-a-Source perspective, with its big-bang disruption effects.
La letteratura economica sulle esternalità di rete è stata espansa da molti contributi, focalizzandosi specialmente sui two-sided market, usando come esempi, tra gli altri, le carte di credito e i giornali. Alcuni ricercatori hanno evidenziato come non tutti i casi si basino sulla stessa struttura, in termini di transazioni abilitate dalla piattaforma, ed è stata proposta una classificazione. Questa tesi vuole approfondire la classificazione dei two-sided market (rinominata in transactional e orthogonal type) e in particolare vuole analizzare gli effetti di due onde tecnologiche sulla classificazione proposta. I two-sided market si basano su importanti flussi informativi per coordinare i due lati, internet e gli smartphone hanno impattato significativamente sul settore IT e questa tesi vuole osservare il loro impatto su questi mercati. Data la natura esplorativa della ricerca è stato scelto un approccio basato sui casi studio. Il primo risultato è l’identificazione di una nuova strategia per generare e acquisire valore nei two-sided market rinominati orthogonal. Aziende come Twitter hanno iniziato a generare valore economico considerando gli utenti non più come un semplice target, ma come una fonte di dati utilizzabili per il data mining e la sentiment analysis. Gli smartphone tramite i loro sensori possono raccogliere una grossissima quantità e varietà di dati. In questo modo le strategie Client-As-a-Source diventano applicabili anche nel mondo reale, utilizzando gli smartphone per analizzare virtualmente quello che succede nel mondo reale. Per esempio UP (un wearable device che permette di monitorare l’attività fisica) raccoglie dati fisici (come i cicli del sonno), e li porta nel mondo virtuale dando feedback immediati. Questi dati aggregati hanno un gran valore dal punto di vista medico, data la loro quantità e il basso costo per dato. Questo genere di prodotti o servizi aprono nuove opportunità in termini di vendita dei dati ad aziende terze (come le aziende farmaceutiche). Questa ricerca analizza gli effetti di queste tecnologie sui two-sided market, evidenziando la logica Client-As-a-Source e i suoi effetti ricollegabili al modello della Big-Bang Disrusption.
The raising of new orthogonal players in two-sided markets
TRABUCCHI, DANIEL
2013/2014
Abstract
In recent years many contributors expanded the economic literature about network externalities exploring the specific case of two-sided markets. Several markets have been used as examples such as payment card system and newspapers. Researchers pointed out that not all these examples are based on the same structure in term of transactions enabled by the platform and an internal distinction has been proposed. This thesis aims at investigating the two-sided market classification (re-named in transactional type and orthogonal type) and more specifically it focuses on the effects of two technological waves on the proposed classification. Two-sided markets are based on huge information streams to coordinate the two different sides; Internet and smartphone impacted dramatically on the information technology industry and their impact on these markets is going to be observed in this work. Given the exploratory nature of the thesis the case study approach has been chosen. The first main result from data analysis is the identification of a new strategy to generate and capture value in orthogonal two-sided markets. Internet based companies, like Twitter, started to create economic value considering users as a source and not only as a target, selling data that can be used for data mining and sentiment analysis. Smartphones can be considered as aggregates of sensors that can collect a huge quantity of data, but also a huge variety of data, enabling orthogonal two-sided players to apply this Client-As-a-Source perspective far beyond the virtual world, using real-time data coming from the real world. Think about UP, an activity-tracker wristband (working with a smartphone) that gathers physical data about sleep patterns and bring them in the virtual world. These data have a huge medical value, enabling researches with a lower cost per data. This kind of product or service opens up opportunities for trading data to third-party companies (i.e. pharmaceutical companies). The thesis analyzes the impacts of the two technological waves on the two-sided market structure, underling this new Client-As-a-Source perspective, with its big-bang disruption effects.| File | Dimensione | Formato | |
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2014_12_Trabucchi.pdf
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https://hdl.handle.net/10589/100026