The token’s secret: the two-faced financial incentive of the token economy
Author
Abstract
Suggested Citation
DOI: 10.1007/s12525-020-00412-9
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Jean-Charles Rochet & Jean Tirole, 2003.
"Platform Competition in Two-Sided Markets,"
Journal of the European Economic Association, MIT Press, vol. 1(4), pages 990-1029, June.
- Jean-Charles Rochet & Jean Triole, 2002. "Platform Competition in Two Sided Markets," FMG Discussion Papers dp409, Financial Markets Group.
- Rochet, Jean-Charles & Triole, Jean, 2002. "Platform competition in two sided markets," LSE Research Online Documents on Economics 24929, London School of Economics and Political Science, LSE Library.
- Rochet, Jean-Charles & Tirole, Jean, 2003. "Platform Competition in Two-Sided Markets," IDEI Working Papers 152, Institut d'Économie Industrielle (IDEI), Toulouse.
- Yannis Bakos & Hanna Halaburda, 2019. "The Role of Cryptographic Tokens and ICOs in Fostering Platform Adoption," CESifo Working Paper Series 7752, CESifo.
- Christian Catalini & Joshua S. Gans, 2016. "Some Simple Economics of the Blockchain," NBER Working Papers 22952, National Bureau of Economic Research, Inc.
- Gawer, Annabelle, 2014. "Bridging differing perspectives on technological platforms: Toward an integrative framework," Research Policy, Elsevier, vol. 43(7), pages 1239-1249.
- Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72(6), pages 584-584.
- S. J. Liebowitz & Stephen E. Margolis, 1994. "Network Externality: An Uncommon Tragedy," Journal of Economic Perspectives, American Economic Association, vol. 8(2), pages 133-150, Spring.
- Mark Armstrong, 2006.
"Competition in two‐sided markets,"
RAND Journal of Economics, RAND Corporation, vol. 37(3), pages 668-691, September.
- Mark Armstrong, 2005. "Competition in Two-Sided Markets," Industrial Organization 0505009, University Library of Munich, Germany.
- Sean Foley & Jonathan R Karlsen & Tālis J Putniņš, 2019. "Sex, Drugs, and Bitcoin: How Much Illegal Activity Is Financed through Cryptocurrencies?," The Review of Financial Studies, Society for Financial Studies, vol. 32(5), pages 1798-1853.
- Lin William Cong & Ye Li & Neng Wang, 2021.
"Tokenomics: Dynamic Adoption and Valuation [The demand of liquid assets with uncertain lumpy expenditures],"
The Review of Financial Studies, Society for Financial Studies, vol. 34(3), pages 1105-1155.
- Cong, Lin William & Li, Ye & Wang, Neng, 2018. "Tokenomics: Dynamic Adoption and Valuation," Working Paper Series 2018-15, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Lin William Cong & Ye Li & Neng Wang, 2020. "Tokenomics: Dynamic Adoption and Valuation," NBER Working Papers 27222, National Bureau of Economic Research, Inc.
- Belleflamme, Paul & Peitz, Martin, 2019.
"Platform competition: Who benefits from multihoming?,"
International Journal of Industrial Organization, Elsevier, vol. 64(C), pages 1-26.
- Peitz, Martin & Belleflamme, Paul, 2017. "Platform Competition: Who Benefits from Multihoming?," CEPR Discussion Papers 12452, C.E.P.R. Discussion Papers.
- Belleflamme, Paul & Peitz, Martin, 2017. "Platform competition : who benefits from multihoming?," Working Papers 17-05, University of Mannheim, Department of Economics.
- Paul Belleflamme & Martin Peitz, 2018. "Platform Competition: Who Benefits from Multihoming?," CRC TR 224 Discussion Paper Series crctr224_2018_001, University of Bonn and University of Mannheim, Germany.
- Martin Peitz & Paul Belleflamme, 2019. "Platform competition: Who benefits from multihoming?," Post-Print hal-02137757, HAL.
- Jay Pil Choi, 2010.
"Tying In Two‐Sided Markets With Multi‐Homing,"
Journal of Industrial Economics, Wiley Blackwell, vol. 58(3), pages 607-626, September.
- Jay Pil Choi, 2006. "Tying in Two-Sided Markets with Multi-Homing," Working Papers 06-04, NET Institute, revised Sep 2006.
- Jay Pil Choi, 2007. "Tying in Two-Sided Markets with Multi-Homing," CESifo Working Paper Series 2073, CESifo.
- Mark Armstrong Author-Email: mark.armstrong@ucl.ac.uk Author-Workplace-Name: University College of London, 2006. "Competition in Two-Sided Markets," RAND Journal of Economics, The RAND Corporation, vol. 37(3), pages 668-691, Autumn.
- David S. Evans & Andrei Hagiu & Richard Schmalensee, 2008.
"Invisible Engines: How Software Platforms Drive Innovation and Transform Industries,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262550687, April.
- David S. Evans & Andrei Hagiu & Richard Schmalensee, 2006. "Invisible Engines: How Software Platforms Drive Innovation and Transform Industries," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262050854, April.
- repec:dau:papers:123456789/7127 is not listed on IDEAS
- Geoffrey PARKER & Marshall VAN ALSTYNE, 2009. "Six Challenges in Platform Licensing and Open Innovation," Communications & Strategies, IDATE, Com&Strat dept., vol. 1(74), pages 17-36, 2nd quart.
- de Reuver, Mark & Sørensen, Carsten & Basole, Rahul C., 2018. "The digital platform: a research agenda," LSE Research Online Documents on Economics 80669, London School of Economics and Political Science, LSE Library.
- Hagiu, Andrei & Wright, Julian, 2015. "Multi-sided platforms," International Journal of Industrial Organization, Elsevier, vol. 43(C), pages 162-174.
- Katz, Michael L & Shapiro, Carl, 1985. "Network Externalities, Competition, and Compatibility," American Economic Review, American Economic Association, vol. 75(3), pages 424-440, June.
- Chen, Yan, 2018. "Blockchain tokens and the potential democratization of entrepreneurship and innovation," Business Horizons, Elsevier, vol. 61(4), pages 567-575.
- Geoffrey Parker & Marshall Van Alstyne, 2018. "Innovation, Openness, and Platform Control," Management Science, INFORMS, vol. 64(7), pages 3015-3032, July.
- Brousseau Eric & Penard Thierry, 2007.
"The Economics of Digital Business Models: A Framework for Analyzing the Economics of Platforms,"
Review of Network Economics, De Gruyter, vol. 6(2), pages 1-34, June.
- Thierry Pénard & Eric Brousseau, 2007. "The economics of digital business models : a framework for analyzing the economics of platforms," Post-Print halshs-00169305, HAL.
- Feng Zhu & Marco Iansiti, 2012. "Entry into platform‐based markets," Strategic Management Journal, Wiley Blackwell, vol. 33(1), pages 88-106, January.
- John P. Conley, 2017. "Blockchain and the Economics of Crypto-tokens and Initial Coin Offerings," Vanderbilt University Department of Economics Working Papers 17-00008, Vanderbilt University Department of Economics.
- Shmuel S. Oren & Stephen A. Smith, 1981. "Critical Mass and Tariff Structure in Electronic Communications Markets," Bell Journal of Economics, The RAND Corporation, vol. 12(2), pages 467-487, Autumn.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Ali Sunyaev & Niclas Kannengießer & Roman Beck & Horst Treiblmaier & Mary Lacity & Johann Kranz & Gilbert Fridgen & Ulli Spankowski & André Luckow, 2021. "Token Economy," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 63(4), pages 457-478, August.
- Rainer Alt, 2020. "Electronic Markets on business model development," Electronic Markets, Springer;IIM University of St. Gallen, vol. 30(3), pages 405-411, September.
- Anabele-Linda Pardi & Mario Paolucci, 2021. "A Chemical Analysis of Hybrid Economic Systems—Tokens and Money," Mathematics, MDPI, vol. 9(20), pages 1-22, October.
- Kim Peiter Jørgensen & Roman Beck, 2022. "Universal Wallets," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 64(1), pages 115-125, February.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Jørgen Veisdal, 2020. "The dynamics of entry for digital platforms in two-sided markets: a multi-case study," Electronic Markets, Springer;IIM University of St. Gallen, vol. 30(3), pages 539-556, September.
- Martin Poniatowski & Hedda Lüttenberg & Daniel Beverungen & Dennis Kundisch, 2022. "Three layers of abstraction: a conceptual framework for theorizing digital multi-sided platforms," Information Systems and e-Business Management, Springer, vol. 20(2), pages 257-283, June.
- Mosterd, Lars & Sobota, Vladimir C.M. & van de Kaa, Geerten & Ding, Aaron Yi & de Reuver, Mark, 2021. "Context dependent trade-offs around platform-to-platform openness: The case of the Internet of Things," Technovation, Elsevier, vol. 108(C).
- Xie, Jiaping & Zhu, Weijun & Wei, Lihong & Liang, Ling, 2021. "Platform competition with partial multi-homing: When both same-side and cross-side network effects exist," International Journal of Production Economics, Elsevier, vol. 233(C).
- Key Pousttchi & Alexander Gleiss, 2019. "Surrounded by middlemen - how multi-sided platforms change the insurance industry," Electronic Markets, Springer;IIM University of St. Gallen, vol. 29(4), pages 609-629, December.
- Alexander Gleiss & Marco Kohlhagen & Key Pousttchi, 2021. "An apple a day – how the platform economy impacts value creation in the healthcare market," Electronic Markets, Springer;IIM University of St. Gallen, vol. 31(4), pages 849-876, December.
- Calvano, Emilio & Polo, Michele, 2021.
"Market power, competition and innovation in digital markets: A survey,"
Information Economics and Policy, Elsevier, vol. 54(C).
- Calvano, Emilio & Polo, Michele, 2020. "Market Power, Competition and Innovation in digital markets: a survey," CEPR Discussion Papers 14314, C.E.P.R. Discussion Papers.
- Fabian Schueler & Dimitri Petrik, 2022. "Objectives of platform research: A co-citation and systematic literature review analysis," Papers 2202.08822, arXiv.org.
- Veile, Johannes W. & Schmidt, Marie-Christin & Voigt, Kai-Ingo, 2022. "Toward a new era of cooperation: How industrial digital platforms transform business models in Industry 4.0," Journal of Business Research, Elsevier, vol. 143(C), pages 387-405.
- Jacobides, Michael G. & Cennamo, Carmelo & Gawer, Annabelle, 2024. "Externalities and complementarities in platforms and ecosystems: From structural solutions to endogenous failures," Research Policy, Elsevier, vol. 53(1).
- Cenamor, Javier, 2021. "Complementor competitive advantage: A framework for strategic decisions," Journal of Business Research, Elsevier, vol. 122(C), pages 335-343.
- Yannis Bakos & Hanna Halaburda, 2020.
"Platform Competition with Multihoming on Both Sides: Subsidize or Not?,"
Management Science, INFORMS, vol. 66(12), pages 5599-5607, December.
- Yannis Bakos & Hanna Halaburda, 2019. "Platform Competition with Multihoming on Both Sides: Subsidize or Not?," Working Papers 19-12, NET Institute.
- Yannis Bakos & Hanna Halaburda, 2020. "Platform Competition with Multi-Homing on Both Sides: Subsidize or Not?," CESifo Working Paper Series 8126, CESifo.
- Yuki Inoue & Takeshi Takenaka & Takami Kasasaku & Tadafumi Tamegai & Ryohei Arai, 2023. "How to design platform ecosystems by intrapreneurs: Implications from action design research on IoT-based platform," Electronic Markets, Springer;IIM University of St. Gallen, vol. 33(1), pages 1-26, December.
- Tang, Hua & Chen, Jing & Ai, Xingzheng & Li, Xiaojing & He, Haojia, 2023. "First-party content decision under competitive hardware/software platforms: Free vs. charge," European Journal of Operational Research, Elsevier, vol. 311(3), pages 1068-1083.
- Bender, Christian M. & Hillebrand, Annette, 2018. "Auswirkungen der Digitalisierung auf die Zustelllogistik," WIK Discussion Papers 433, WIK Wissenschaftliches Institut für Infrastruktur und Kommunikationsdienste GmbH.
- Jullien, Bruno & Pavan, Alessandro & Rysman, Marc, 2021.
"Two-sided Markets, Pricing, and Network Effects,"
TSE Working Papers
21-1238, Toulouse School of Economics (TSE).
- Bruno Jullien & Alessandro Pavan & Marc Rysman, 2022. "Two-sided Markets, Pricing, and Network Effects," Working Papers hal-03629451, HAL.
- Bruno Jullien & Alessandro Pavan & Marc Rysman, 2021. "Two-sided markets, pricing, and network effects," Post-Print hal-03828345, HAL.
- Pavan, Alessandro & Jullien, Bruno & Rysman, Marc, 2021. "Two-sided Markets, Pricing, and Network Effects," CEPR Discussion Papers 16480, C.E.P.R. Discussion Papers.
- Xing Wan & Javier Cenamor & Geoffrey Parker & Marshall Van Alstyne, 2017. "Unraveling Platform Strategies: A Review from an Organizational Ambidexterity Perspective," Sustainability, MDPI, vol. 9(5), pages 1-18, May.
- Jabbour, Chady & Rey-Valette, Hélène & Maurel, Pierre & Salles, Jean-Michel, 2019. "Spatial data infrastructure management: A two-sided market approach for strategic reflections," International Journal of Information Management, Elsevier, vol. 45(C), pages 69-82.
- Dulani Jayasuriya Daluwathumullagamage & Alexandra Sims, 2020. "Blockchain-Enabled Corporate Governance and Regulation," IJFS, MDPI, vol. 8(2), pages 1-41, June.
- Romi Kher & Siri Terjesen & Chen Liu, 2021. "Blockchain, Bitcoin, and ICOs: a review and research agenda," Small Business Economics, Springer, vol. 56(4), pages 1699-1720, April.
More about this item
Keywords
Multi-sided platform; Platform adoption; Blockchain; Tokenization; Token valuation;All these keywords.
JEL classification:
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
- O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:elmark:v:30:y:2020:i:3:d:10.1007_s12525-020-00412-9. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.