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Abstract:
Abstract
One-sided Logic in Two-sided Markets
The Review of Network Economics
Vol. 3, Issue 1 - March 2004, pp 42-63
Author
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Julian Wright
Department of Economics, National University of Singapore
E-mail: [email protected] |
Abstract
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In this paper, I consider eight basic fallacies that can arise from using conventional wisdom from one-sided markets in two-sided market settings. These fallacies are illustrated using statements made in the context of regulatory investigations into credit card schemes in Australia and the United Kingdom. I discuss how these fallacies may be reconciled by proper use of a two-sided market analysis, making reference to the relevant economics literature where applicable. The analysis is supported by observations on other two-sided markets.
Keywords: Two-sided markets, credit cards, multihoming, antitrust
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