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Economics Politics - 2024 - Liu - Analyzing horizontal integration and market efficiency in platform enterprises A case1.26 MB
Published VersionCC BY-NC-ND V4.0, Open Access
Journal article
Analyzing horizontal integration and market efficiency in platform enterprises: A case study of exchanges
Economics & Politics, Vol.36(2), pp.1076-1089
2024
Appears in UniSC Supported Open Access Outputs
Abstract
As a platform for the trading of bulk commodities, securities, and futures, exchanges, characterized by platform-like attributes, provide inexhaustible power for the further development of commodity economy through horizontal integration. This paper examines the international integration landscape of the modern exchanges through the lens of platform economy theory, specifically examining the ramifications of their horizontal integration on market efficiency. Employing the net utility hypothesis within the Hotelling model, we construct a nuanced trader utility model. Through a comparative analysis of platform profit, trader utility, and social welfare, the research discerns the impact of exchanges' horizontal integration. We highlight the intrinsic incentives for such integration within exchanges and put forth pertinent policy recommendations, adding a dimension of practical relevance to the academic discourse. The paper concludes by highlighting the role of government in promoting the efficiency of platform enterprises.
Details
- Title
- Analyzing horizontal integration and market efficiency in platform enterprises: A case study of exchanges
- Authors
- Min Liu - Anhui University of Finance and EconomicsSajid Anwar (Corresponding Author) - University of the Sunshine Coast, Queensland, School of Business and Creative Industries
- Publication details
- Economics & Politics, Vol.36(2), pp.1076-1089
- Publisher
- Wiley-Blackwell Publishing Ltd.
- Date published
- 2024
- DOI
- 10.1111/ecpo.12281
- ISSN
- 1468-0343; 0954-1985
- Copyright note
- © 2024 The Authors. Economics & Politics published by John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and no modifications or adaptations are made.
- Organisation Unit
- School of Business and Creative Industries; Indigenous and Transcultural Research Centre
- Language
- English
- Record Identifier
- 991014498602621
- Output Type
- Journal article
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