{"id":"https://openalex.org/W2898904633","doi":"https://doi.org/10.1111/jems.12290","title":"The economics of markets and platforms","display_name":"The economics of markets and platforms","publication_year":2018,"publication_date":"2018-11-02","ids":{"openalex":"https://openalex.org/W2898904633","doi":"https://doi.org/10.1111/jems.12290","mag":"2898904633"},"language":"en","primary_location":{"id":"doi:10.1111/jems.12290","doi":"https://doi.org/10.1111/jems.12290","is_oa":false,"landing_page_url":"https://doi.org/10.1111/jems.12290","pdf_url":null,"source":{"id":"https://openalex.org/S115237062","display_name":"Journal of Economics & Management Strategy","issn_l":"1058-6407","issn":["1058-6407","1430-9134","1530-9134"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Economics &amp; Management Strategy","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.3227135","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5071438332","display_name":"Daniel F. Spulber","orcid":"https://orcid.org/0000-0003-2697-6522","observed_orcids":["https://orcid.org/0000-0003-2697-6522"]},"institutions":[{"id":"https://openalex.org/I111979921","display_name":"Northwestern University","ror":"https://ror.org/000e0be47","country_code":"US","type":"education","lineage":["https://openalex.org/I111979921"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Daniel F. Spulber","raw_affiliation_strings":["Strategy Department, Kellogg School of Management, Northwestern University, Evanston, Illinois"],"raw_orcid":"https://orcid.org/0000-0003-2697-6522","affiliations":[{"raw_affiliation_string":"Strategy Department, Kellogg School of Management, Northwestern University, Evanston, Illinois","institution_ids":["https://openalex.org/I111979921"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5071438332"],"corresponding_institution_ids":["https://openalex.org/I111979921"],"apc_list":{"value":3240,"currency":"USD","value_usd":3240},"apc_paid":null,"fwci":10.426,"has_fulltext":false,"cited_by_count":98,"citation_normalized_percentile":{"value":0.97713372,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":98,"max":100},"biblio":{"volume":"28","issue":"1","first_page":"159","last_page":"172"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11437","display_name":"Digital Platforms and Economics","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11437","display_name":"Digital Platforms and Economics","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10785","display_name":"Economic Theory and Institutions","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12501","display_name":"Digital Economy and Work Transformation","score":0.0,"subfield":{"id":"https://openalex.org/subfields/3312","display_name":"Sociology and Political Science"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/platform-economics","display_name":"platform economics","score":0.6169999837875366},{"id":"https://openalex.org/keywords/digital-markets","display_name":"digital markets","score":0.9549999833106995},{"id":"https://openalex.org/keywords/intermediaries","display_name":"intermediaries","score":0.9509999752044678},{"id":"https://openalex.org/keywords/market-clearing","display_name":"market clearing","score":0.9879999756813049},{"id":"https://openalex.org/keywords/bid-ask-spread","display_name":"bid-ask spread","score":0.9629999995231628},{"id":"https://openalex.org/keywords/market-power","display_name":"market power","score":0.9779999852180481},{"id":"https://openalex.org/keywords/search-costs","display_name":"search costs","score":0.9950000047683716},{"id":"https://openalex.org/keywords/matching-cost","display_name":"matching cost","score":0.996999979019165},{"id":"https://openalex.org/keywords/adverse-selection","display_name":"adverse selection","score":1.0},{"id":"https://openalex.org/keywords/moral-hazard","display_name":"moral hazard","score":1.0},{"id":"https://openalex.org/keywords/market-formation","display_name":"market formation","score":0.871999979019165},{"id":"https://openalex.org/keywords/coordination","display_name":"coordination","score":0.6460000276565552},{"id":"https://openalex.org/keywords/theory-of-the-firm","display_name":"theory of the firm","score":0.9829999804496765},{"id":"https://openalex.org/keywords/innovation","display_name":"innovation","score":0.9819999933242798},{"id":"https://openalex.org/keywords/entrepreneurship","display_name":"entrepreneurship","score":1.0}],"concepts":[{"id":"https://openalex.org/C32252159","wikidata":"https://www.wikidata.org/wiki/Q380037","display_name":"Adverse selection","level":2,"score":0.7020409107208252},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6287391185760498},{"id":"https://openalex.org/C139569457","wikidata":"https://www.wikidata.org/wiki/Q1666223","display_name":"Intermediary","level":2,"score":0.5592554807662964},{"id":"https://openalex.org/C2775881736","wikidata":"https://www.wikidata.org/wiki/Q1274157","display_name":"Market power","level":3,"score":0.5304134488105774},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.5209540128707886},{"id":"https://openalex.org/C2780202544","wikidata":"https://www.wikidata.org/wiki/Q44454","display_name":"Moral hazard","level":3,"score":0.5079999566078186},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.5071477890014648},{"id":"https://openalex.org/C165064840","wikidata":"https://www.wikidata.org/wiki/Q1321061","display_name":"Matching (statistics)","level":2,"score":0.4827689230442047},{"id":"https://openalex.org/C14981831","wikidata":"https://www.wikidata.org/wiki/Q1713661","display_name":"Market clearing","level":2,"score":0.4628322422504425},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.29985809326171875},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.0},{"id":"https://openalex.org/C2781127519","wikidata":"https://www.wikidata.org/wiki/Q43637","display_name":"Monopoly","level":2,"score":0.0},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1111/jems.12290","doi":"https://doi.org/10.1111/jems.12290","is_oa":false,"landing_page_url":"https://doi.org/10.1111/jems.12290","pdf_url":null,"source":{"id":"https://openalex.org/S115237062","display_name":"Journal of Economics & Management Strategy","issn_l":"1058-6407","issn":["1058-6407","1430-9134","1530-9134"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Economics &amp; Management Strategy","raw_type":"journal-article"},{"id":"doi:10.2139/ssrn.3227135","doi":"https://doi.org/10.2139/ssrn.3227135","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.3227135","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"}],"best_oa_location":{"id":"doi:10.2139/ssrn.3227135","doi":"https://doi.org/10.2139/ssrn.3227135","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.3227135","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320306140","display_name":"Ewing Marion Kauffman Foundation","ror":"https://ror.org/0288es483"},{"id":"https://openalex.org/F4320308258","display_name":"Qualcomm","ror":"https://ror.org/002zrf773"}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":60,"referenced_works":["https://openalex.org/W562641603","https://openalex.org/W1483340787","https://openalex.org/W1484483053","https://openalex.org/W1516051863","https://openalex.org/W1531897854","https://openalex.org/W1554978912","https://openalex.org/W1569995930","https://openalex.org/W1966628519","https://openalex.org/W1980455539","https://openalex.org/W1993428784","https://openalex.org/W1993700489","https://openalex.org/W2002430844","https://openalex.org/W2008975493","https://openalex.org/W2015007620","https://openalex.org/W2021465972","https://openalex.org/W2038210926","https://openalex.org/W2056501160","https://openalex.org/W2078632726","https://openalex.org/W2078869244","https://openalex.org/W2081999381","https://openalex.org/W2098219796","https://openalex.org/W2104895674","https://openalex.org/W2108576892","https://openalex.org/W2110796175","https://openalex.org/W2115158412","https://openalex.org/W2127977814","https://openalex.org/W2144931085","https://openalex.org/W2159871020","https://openalex.org/W2161209922","https://openalex.org/W2163588977","https://openalex.org/W2260276006","https://openalex.org/W2312112081","https://openalex.org/W2316926081","https://openalex.org/W2327543636","https://openalex.org/W2495429017","https://openalex.org/W2503417579","https://openalex.org/W2531864566","https://openalex.org/W2551675031","https://openalex.org/W2556507681","https://openalex.org/W2615672253","https://openalex.org/W2799670133","https://openalex.org/W3015466811","https://openalex.org/W3121202017","https://openalex.org/W3121787513","https://openalex.org/W3123065020","https://openalex.org/W3123423156","https://openalex.org/W3123702431","https://openalex.org/W3123826659","https://openalex.org/W3124511088","https://openalex.org/W3124860557","https://openalex.org/W3125013023","https://openalex.org/W3125195850","https://openalex.org/W3125819529","https://openalex.org/W3142301639","https://openalex.org/W4231323528","https://openalex.org/W4235898938","https://openalex.org/W4238226601","https://openalex.org/W4242585662","https://openalex.org/W4253440314","https://openalex.org/W6990913164"],"related_works":["https://openalex.org/W3024738229","https://openalex.org/W4361752335","https://openalex.org/W2784288405","https://openalex.org/W6958625726","https://openalex.org/W3137594660","https://openalex.org/W4205906441","https://openalex.org/W4246836432","https://openalex.org/W7144926093","https://openalex.org/W7116917031","https://openalex.org/W2939137647"],"abstract_inverted_index":{"Abstract":[0],"Advances":[1],"in":[2,46,106],"the":[3,25,30,37,41,66,80,100,107,120,123],"study":[4,96],"of":[5,27,32,44,75,97,102,109,122],"both":[6],"markets":[7,22,28],"and":[8,29,36,50,64,69,92,104,133],"platforms":[9,19,33,76,98,115,130],"contribute":[10],"to":[11],"economics.":[12],"Platforms":[13,39],"are":[14,34],"typically":[15],"digital":[16],"markets,":[17],"although":[18],"can":[20],"designate":[21],"generally.":[23],"So,":[24],"economics":[26,31],"one":[35],"same.":[38],"show":[40],"critical":[42],"role":[43],"intermediaries":[45],"endogenous":[47],"price":[48],"adjustment":[49],"market":[51,71,84],"clearing.":[52],"The":[53,73,95,111,125],"platform":[54],"model":[55],"remedies":[56],"problems":[57],"with":[58],"general":[59],"equilibrium":[60],"analysis":[61,74,126],"by":[62],"combining":[63],"extending":[65],"basic":[67],"Walrasian":[68],"Marshalian":[70],"models.":[72],"provides":[77],"explanations":[78],"for":[79,119],"bid\u2013ask":[81],"spread,":[82],"including":[83],"power,":[85],"search":[86],"costs,":[87,89],"matching":[88],"adverse":[90],"selection,":[91],"moral":[93],"hazard.":[94],"demonstrates":[99],"importance":[101],"participation":[103],"coordination":[105],"formation":[108],"markets.":[110],"discussion":[112],"emphasizes":[113],"that":[114],"have":[116],"significant":[117],"implications":[118],"theory":[121],"firm.":[124],"further":[127],"considers":[128],"how":[129],"affect":[131],"innovation":[132],"entrepreneurship.":[134]},"counts_by_year":[{"year":2026,"cited_by_count":4},{"year":2025,"cited_by_count":13},{"year":2024,"cited_by_count":38},{"year":2023,"cited_by_count":7},{"year":2022,"cited_by_count":11},{"year":2021,"cited_by_count":7},{"year":2020,"cited_by_count":13},{"year":2019,"cited_by_count":5}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2018-11-09T00:00:00"}
