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Beyond Platform Economy: A Comprehensive Model for Decentralized and Self-Organizing Markets on Internet-Scale

1
Baden-Wuerttemberg Cooperative State University, 68163 Mannheim, Germany
2
Institute of Telematics, University of Lübeck, 23562 Lübeck, Germany
*
Author to whom correspondence should be addressed.
Current address: Business Informatics, Baden-Wuerttemberg Cooperative State University, 68163 Mannheim, Germany.
Computers 2019, 8(4), 90; https://doi.org/10.3390/computers8040090
Received: 6 November 2019 / Revised: 2 December 2019 / Accepted: 5 December 2019 / Published: 9 December 2019
The platform economy denotes a subset of economic activities enabled by platforms such as Amazon, Alibaba, and Uber. Due to their tremendous success, more and more offerings concentrate around platforms increasing platforms’ positional-power, hence leading towards a de-facto centralization of previously decentralized online markets. Furthermore, platform models work well for individual products and services or predefined combinations of these. However, they fall short in supporting complex products (personalized combinations of individual products and services), the combination of which is required to fulfill a particular consumer need, consequently increasing transaction costs for consumers looking for such products. To address these issues, we envision a “post-platform economy”—an economy facilitated by decentralized and self-organized online structures named Distributed Market Spaces. This work proposes a comprehensive model to serve as a guiding framework for the analysis, design, and implementation of Distributed Market Spaces. The proposed model leverages the St. Gallen Media Reference Model by adjusting existing and adding new entities and elements. The resulting multidimensional and multi-view model defines how a reference Distributed Market Space (a) works on the strategic and operational levels, (b) enables market exchange for complex products, and (c) how its instances might unfold during different life stages. In a case study, we demonstrated the application of our model and evaluated its suitability of meeting the primary objectives it was designed for. View Full-Text
Keywords: platform economy; distributed market spaces; reference models; smart city platform economy; distributed market spaces; reference models; smart city
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MDPI and ACS Style

Radonjic-Simic, M.; Pfisterer, D. Beyond Platform Economy: A Comprehensive Model for Decentralized and Self-Organizing Markets on Internet-Scale. Computers 2019, 8, 90.

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