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class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" src=\"http:\/\/cxounion.cn\/wp-content\/uploads\/2023\/06\/CXOUNION\u65b0\u4e8c\u7ef4\u7801.png\" alt=\"\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">\u7ffb\u8bd1\uff1a<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Huang Yiping, Hu Jiaying: Digital platform pricing should take into account the market mechanism and social impact<\/h3>\n\n\n\n<p>Since Adam Smith, how a free market allocates resources and determines prices has been a contentious topic, with the debate over how to balance the &#8220;invisible hand&#8221; with the &#8220;visible hand.&#8221; The development of the platform economy has added a new perspective to this old debate. New features such as network effects, economies of scale, and economies of scope make it easy for platform companies to have a larger market share and strong market power. Logically, pricing in the platform economy may be unreasonable, which is also a problem that many consumers often worry about. So, how to judge the rationality of the &#8220;invisible hand&#8221; in platform economic pricing? Under what conditions should the &#8220;visible hand&#8221; function and how? Only by clarifying these issues can we talk about improving the platform pricing mechanism. At present, China&#8217;s platform economic policy has shifted from special rectification to normal supervision, and this task has become particularly important and urgent.  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>If the market mechanism is regarded as the process of pursuing &#8220;procedural justice&#8221;, that is, there must be sufficient market competition forces involved in the pricing process, then the regulatory policy is more like the means of pursuing &#8220;outcome justice&#8221;, that is, the final price formed by the platform should fall in a range acceptable to multiple participants. A good platform pricing mechanism should rely on market mechanism and regulatory policy to play a role together, taking into account &#8220;procedural justice&#8221; and &#8220;outcome justice&#8221;. However, the &#8220;invisible hand&#8221; and the &#8220;visible hand&#8221; had better complement each other, and the regulatory policy had better promote the benign operation of the market mechanism. The focus should be on setting some basic rules for the pricing of the platform economy and enhancing the competitiveness of the market at the same time, rather than simply and brutally limiting the price level, which would easily affect the market mechanism of the platform economy. There may be &#8220;good intentions and bad intentions&#8221;. For example, studies have found that the pricing regulation of the commission cap on the outbound platform in the United States has actually reduced the orders and revenue of small and medium-sized restaurants, and the overall welfare of society has also declined.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">First, &#8220;outcome justice&#8221; and the added value of digital platforms<\/h4>\n\n\n\n<p>There are many dimensions to measure the reasonableness of platform pricing. One starting point is to start with the results and compare the fees of the platform to the potential value that the platform provides to the merchant or consumer. If the platform provides merchants with a broad consumer base (such as helping to reach customers, matching supply and demand in real time), or provides the convenience of a digital platform (such as automation, digitization, cost reduction, efficiency improvement, big data analytics), then the pricing is reasonable relative to the value that the platform provides. This is closely related to the analysis of social welfare. There is already a body of literature pointing to the value that digital platforms bring.  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>For merchants, digital platforms, as bilateral or multilateral markets driven by digital technology, break the time and space restrictions of transactions through digitalization and automation, helping to reduce the threshold of entrepreneurship, customer acquisition costs and transaction costs, and improve transaction efficiency and profitability. Many studies have shown that digital platforms play an important role in creating jobs, encouraging employment and promoting the development of small and medium-sized enterprises, and play an indispensable role in driving related employment and improving workers&#8217; incomes. Digital platforms further open up the national and even global markets with the help of digital infrastructure (such as the Internet, 4G\/5G network, smart phones, etc.), and optimize resource allocation by integrating the upstream and downstream industrial chains and supply chains, which helps merchants rapidly expand the market scale and promote trade prosperity.<\/p>\n\n\n\n<p>For consumers, the digital platform itself has led to changes in consumption patterns. Digital platforms give people the option to consume online, allowing residents to spend beyond the constraints of weather, geographical distance and travel barriers, smoothing the consumption curve and stimulating more consumer demand. Digital platforms help reduce uncertainty and risk in market transactions and enhance consumer confidence. Digital platforms provide open, transparent, easily searchable, and predictable pricing, guiding prices across the country toward this benchmark, helping to reduce offline &#8220;rip-offs&#8221; and providing consumers with lower prices, more diverse choices, and more hassle-free services. Overall, the added value and services provided by the platform allow consumers to have more convenience, more choices and greater flexibility in their shopping experience.  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>Third-party guarantees and trading instruments provided by digital platforms also guarantee the security of payments and the reliability of transactions from a financial perspective. The platform undertakes a series of rule-making and dispute handling functions, including returns, which has boosted consumers&#8217; trust in platform merchants in many ways, thus translating into more consumption in the digital platform ecosystem. Online consumption achieved through digital platforms also plays a role in stabilizing the economy and providing inclusive benefits. It plays an important function of smooth operation and hedging downside risks during the period of limited offline activities such as epidemic prevention and control. It also continues to bring convenience to the elderly, the infirm, the disabled, the pregnant and other people who are unable to go out due to physical factors, and plays a positive market force in ensuring people&#8217;s livelihood.<\/p>\n\n\n\n<p>From the point of view of pricing, the market power and network effects of dual (multi-sided) markets are mutually reinforcing, which breaks the traditional argument that market power will raise prices and reduce consumer welfare. For example, many empirical studies have found that mergers and acquisitions of newspaper publishers or radio companies increase their market power and raise the price advertisers pay for advertising. However, since consumers do not like advertising, the result is to improve consumer welfare. For another example, the food and beverage delivery industry platform subsidizes freight costs to consumers by charging merchants to maintain the delivery service of small takeout, which helps maintain a sufficient number of takeout consumers and enables merchants to obtain additional benefits brought by network effects. If the lower platform charges lead to a decline in consumer subsidies, it is possible to make some consumers withdraw from the take-out market. This, in turn, further reduces the revenue and profits merchants earn on the platform, and increases the delivery costs faced by other orders (some fixed costs cannot be diluted on a larger base). The withdrawal of some merchants will lead to the reduction of the diversity of dishes on the platform and reduce the welfare of consumers. In a two-sided market, the withdrawal of consumers and merchants will reinforce each other, ultimately leading to a loss of social welfare.  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>The nature of dual (multi-sided) markets also leads to a &#8220;seesaw effect&#8221; in platform pricing, that is, some shock that raises the price of one side usually lowers the price of the other side. This effect is reflected to varying degrees in different industries, such as media, telecommunications and payments.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Second, &#8220;procedural justice&#8221; and the contestability of digital platforms<\/h4>\n\n\n\n<p>Another entry point to evaluate the pricing rationality of the platform is to start from the process of price formation and look at the degree of competition in the platform economy: if the market competition is sufficient, then the pricing formed in this way is relatively reasonable. If platforms have the power to monopolize pricing, then that pricing is generally considered to be detrimental to social welfare. Whether a platform has a monopoly is likely to depend not only on the number of large players (one or two or three) in the segment in which the platform is currently located, but also on the overall competitive pressure (such as the presence of cross-border competitors and disruptive innovators). Even if a market temporarily presents a monopoly or oligopoly market structure, but because of the existence of potential competitors, its pricing may be reasonable.  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>American economist Richard Baumol and his collaborators put forward the &#8220;contestable&#8221; theory. An important feature of contestable markets is that entry and exit are completely free and cost-free. Pressure from potential (and probably unanticipated) competitors will constrain the pricing behavior of established players in the market. Therefore, even if the market structure of monopoly or oligarchy appears temporarily in this market, its pricing still follows the socially optimal marginal cost pricing rule.<\/p>\n\n\n\n<p>In today&#8217;s digital age, this condition is not so distant. In the Internet era where the asset-light model prevails, user data is the most important resource, and the input related to data collection, storage, invocation, analysis and application can be universally converted and used in all walks of life. For example, platform companies that take user search as the entry point can easily enter other consumer markets such as e-commerce takeout and local life. The popularity of smartphones and the extensive coverage of telecommunications infrastructure have made the entry and exit threshold of the Internet industry quite low. Especially among Internet giants, it has become very easy to enter each other&#8217;s market territory. The universality of cross-border competition will make the leading platform enterprises face greater competitive pressure, so that the market equilibrium will be closer to the optimal result of social welfare to a certain extent.  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>The concept of contestable market is similar to the classic perfect competitive market analysis framework in economics. Although it is very rare in real life, it still has a reference value that cannot be ignored as a reference point for analysis. &#8220;Contestability&#8221; is of great significance to understanding market structure and anti-monopoly policy. Regulators and antitrust policy should focus on reducing market entry and exit costs, rather than the current number of firms. Public sector responsibility for infrastructure investment, or ensuring that industry infrastructure is open to all businesses, is an important condition for maintaining a competitive market.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Third, digital platform pricing should take into account the market mechanism and social impact<\/h4>\n\n\n\n<p>The issue of platform pricing in the digital age has its special complexity, which is reflected in the following points:<\/p>\n\n\n\n<p>First, digital platforms are not only bilateral markets, but also multilateral markets, and there are often three or more market participants interacting in the platform. For example, e-commerce and take-out platforms are mainly connected to consumers and businesses, but with the emergence of the importance of logistics distribution, couriers and take-out workers have also become key players in the platform. Video streaming platforms such as short video are mainly connected to users (content consumers) and content creators such as bloggers, but advertisers are an important source of revenue for the platform. This is also true for search engine platforms.  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>Therefore, the pricing issue of the platform has become more complex, in addition to the balance of supply and demand and covering costs, it also involves certain interest coordination issues, and even assumes some social governance functions. In particular, it is important to clarify the objective function that platform pricing needs to achieve, and whether there are other non-price means that can be used to achieve a particular goal. The respective roles of the state and the market also need to be clarified.<\/p>\n\n\n\n<p>Second, although digital platforms generally have certain network effects, economies of scale and economies of scope, there is strong heterogeneity at the industry level, and there is a large difference between platforms. For example, food delivery platforms differ from e-commerce platforms in that part of the process is done offline, so their economies of scale, network externalities, and the characteristics of multilateral markets are between pure online platforms (such as e-commerce) and pure offline platforms (such as department stores). For O2O platforms such as takeout and instant consumption, on the one hand, the network effect on the demand side is relatively more localized, and the audience scope reached by advertising is narrower and more timeliness than that of e-commerce. On the other hand, the supply side relies on offline distribution, and cannot achieve the scale effect that can be achieved by pure online economy. The network car platform is even more so, the real-time dynamic characteristics are obvious, and it is also more subject to the supply of human and material resources below the line.<\/p>\n\n\n\n<p>Therefore, the pricing model of the platform is often closely linked to its business characteristics, and the corresponding regulatory policies should be appropriately adjusted according to the characteristics of the platform. Different business types of platforms, pricing models will be different, need to in-depth study and judgment, can not be generalized.  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>Third, with the rapid development of the digital economy, new platforms continue to emerge, and the advantages of old platforms may fade, we should use a dynamic perspective to look at the degree of competition in the platform economy. In the Internet era where the asset-light model prevails, user data is the most important resource, and the input related to data collection, storage, invocation, analysis and application can be universally converted and used in all walks of life. For example, platform companies that take user search as the entry point can easily enter other consumer markets such as e-commerce takeout and local life. The popularity of smartphones and the extensive coverage of telecommunications infrastructure have made the entry and exit threshold of the Internet industry quite low. Especially among Internet giants, it has become very easy to enter each other&#8217;s market territory.<\/p>\n\n\n\n<p>The universality of cross-border competition will make the leading platform enterprises face greater competitive pressure, so that the market equilibrium will be closer to the optimal result of social welfare to a certain extent. Pricing is determined by competition. If the market competition is sufficient, then the platform can not exceed the market forces to set prices, so that the price is relatively reasonable.  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>To sum up, platform pricing and regulatory policies should balance the relationship between market mechanism and social impact, and take into account &#8220;outcome justice&#8221; and &#8220;procedural justice&#8221;. Regulators should pay close attention to the dynamic characteristics of the platform competition pattern, and pay attention to the power of the market itself when strengthening supervision. On the one hand, appropriate restrictions can be taken to clearly unreasonable platform pricing, but the focus should be on improving pricing mechanisms and rules to encourage platforms to provide consumers and small and medium-sized merchants with more added value based on digital technology, rather than collecting rents brought by monopoly power. On the other hand, it is more necessary to create a more inclusive policy environment for market competition, such as enhancing the &#8220;contestability&#8221; of the industry by lowering the entry threshold, reducing the direct intervention of administrative on platform micro-management, focusing policy forces more on cracking down on unfair competition, and letting market forces play the basic role of price discovery and resource allocation. Create a good policy environment for the standardized and healthy development of platform economy. The combination of &#8220;proactive government&#8221; and &#8220;efficient market&#8221;, each performing its own duties, can more effectively protect the legitimate rights and interests of consumers, activate the innovation vitality of platforms and small and medium-sized merchants, and promote the sustainable and healthy development of China&#8217;s digital economy.<\/p>\n\n\n\n<p class=\"has-text-align-center has-cyan-bluish-gray-color has-text-color has-small-font-size\">\u7531<a href=\"http:\/\/cxounion.cn\">CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/a>\u8f6c\u8f7d\u800c\u6210\uff0c\u6765\u6e90\u4e8e\u4e2d\u65b0\u7ecf\u7eac\uff1b\u7f16\u8f91\/\u7ffb\u8bd1\uff1aCXO UNIONCXO\u8054\u76df\u5c0fU\u3002<\/p>\n\n\n\n<p class=\"has-text-align-center has-medium-font-size\">\u5982\u9700\u52a0\u5165<a href=\"http:\/\/weixin.qq.com\/r\/fxJxaVHE1AyrrRUK90dt\">CXO UNION\uff08CXO\u8054\u76df\uff09<\/a>\u9ad8\u7ba1\u793e\u7fa4\uff0c\u8bf7\u8054\u7cfb\u793e\u7fa4\u5c0f\u4f19\u4f34\u54e6~<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" src=\"http:\/\/cxounion.cn\/wp-content\/uploads\/2023\/06\/CXOUNION\u65b0\u4e8c\u7ef4\u7801.png\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"has-cyan-bluish-gray-color has-text-color has-small-font-size\">\u514d\u8d23\u58f0\u660e: \u672c\u7f51\u7ad9(<a href=\"http:\/\/cxounion.cn\">http:\/\/www.cxounion.cn\/<\/a>)\u5185\u5bb9\u4e3b\u8981\u6765\u81ea\u539f\u521b\u3001\u5408\u4f5c\u5a92\u4f53\u4f9b\u7a3f\u548c\u7b2c\u4e09\u65b9\u6295\u7a3f\uff0c\u51e1\u5728\u672c\u7f51\u7ad9\u51fa\u73b0\u7684\u4fe1\u606f\uff0c\u5747\u4ec5\u4f9b\u53c2\u8003\u3002\u672c\u7f51\u7ad9\u5c06\u5c3d\u529b\u786e\u4fdd\u6240\u63d0\u4f9b\u4fe1\u606f\u7684\u51c6\u786e\u6027\u53ca\u53ef\u9760\u6027\uff0c\u4f46\u4e0d\u4fdd\u8bc1\u6709\u5173\u8d44\u6599\u7684\u51c6\u786e\u6027\u53ca\u53ef\u9760\u6027\uff0c\u8bfb\u8005\u5728\u4f7f\u7528\u524d\u8bf7\u8fdb\u4e00\u6b65\u6838\u5b9e\uff0c\u5e76\u5bf9\u4efb\u4f55\u81ea\u4e3b\u51b3\u5b9a\u7684\u884c\u4e3a\u8d1f\u8d23\u3002\u672c\u7f51\u7ad9\u5bf9\u6709\u5173\u8d44\u6599\u6240\u5f15\u81f4\u7684\u9519\u8bef\u3001\u4e0d\u786e\u6216\u9057\u6f0f\uff0c\u6982\u4e0d\u8d1f\u4efb\u4f55\u6cd5\u5f8b\u8d23\u4efb\u3002<\/p>\n\n\n\n<p class=\"has-cyan-bluish-gray-color has-text-color has-small-font-size\">\u672c\u7f51\u7ad9\u520a\u8f7d\u7684\u6240\u6709\u5185\u5bb9(\u5305\u62ec\u4f46\u4e0d\u4ec5\u9650\u6587\u5b57\u3001\u56fe\u7247\u3001LOGO\u3001\u97f3\u9891\u3001\u89c6\u9891\u3001\u8f6f\u4ef6\u3001\u7a0b\u5e8f\u7b49) \u7248\u6743\u5f52\u539f\u4f5c\u8005\u6240\u6709\u3002\u4efb\u4f55\u5355\u4f4d\u6216\u4e2a\u4eba\u8ba4\u4e3a\u672c\u7f51\u7ad9\u4e2d\u7684\u5185\u5bb9\u53ef\u80fd\u6d89\u5acc\u4fb5\u72af\u5176\u77e5\u8bc6\u4ea7\u6743\u6216\u5b58\u5728\u4e0d\u5b9e\u5185\u5bb9\u65f6\uff0c\u8bf7\u53ca\u65f6\u901a\u77e5\u672c\u7ad9\uff0c\u4e88\u4ee5\u5220\u9664\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u5982\u4f55\u5224\u65ad\u5e73\u53f0\u7ecf\u6d4e\u5b9a\u4ef7\u4e2d\u201c\u770b\u4e0d\u89c1\u7684\u624b\u201d\u7684\u5408\u7406\u6027\uff1f\u201c\u770b\u5f97\u89c1\u7684\u624b\u201d\u53c8\u5e94\u8be5\u5728\u4ec0\u4e48\u6761\u4ef6\u4e0b\u53d1\u6325\u4f5c\u7528\u3001\u5982\u4f55\u4f5c\u7528\uff1f\u53ea\u6709\u5398\u6e05\u8fd9\u4e9b\u95ee\u9898\uff0c\u624d\u8c08\u5f97\u4e0a\u5b8c\u5584\u5e73\u53f0\u5b9a\u4ef7\u673a\u5236\u3002<\/p>\n","protected":false},"author":1,"featured_media":12787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[55],"class_list":["post-12784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-viewpoint","tag-55"],"_links":{"self":[{"href":"http:\/\/cxounion.cn\/index.php\/wp-json\/wp\/v2\/posts\/12784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cxounion.cn\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cxounion.cn\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/cxounion.cn\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/cxounion.cn\/index.php\/wp-json\/wp\/v2\/comments?post=12784"}],"version-history":[{"count":1,"href":"http:\/\/cxounion.cn\/index.php\/wp-json\/wp\/v2\/posts\/12784\/revisions"}],"predecessor-version":[{"id":12788,"href":"http:\/\/cxounion.cn\/index.php\/wp-json\/wp\/v2\/posts\/12784\/revisions\/12788"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/cxounion.cn\/index.php\/wp-json\/wp\/v2\/media\/12787"}],"wp:attachment":[{"href":"http:\/\/cxounion.cn\/index.php\/wp-json\/wp\/v2\/media?parent=12784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cxounion.cn\/index.php\/wp-json\/wp\/v2\/categories?post=12784"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cxounion.cn\/index.php\/wp-json\/wp\/v2\/tags?post=12784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}