补贴策略在网络零售平台竞争中真的有效吗?——基于寡头竞争模型的理论与实证研究

Is Subsidy Strategy Really Effective in the Competition of Online Retail Platforms?——Theoretical and Empirical Research Based on Oligopoly Competition Model

文章基于双边市场理论与经典寡占模型,在推导网络零售平台竞争静态结果的基础上,结合数值模拟方法推导长期动态最优补贴率的选择,研究补贴策略在网络零售平台竞争中的应用。数理模型推导发现:(1)从短期看,为了在激烈的竞争中“活下去”,网络零售平台通过补贴获得更多用户和更高的市场份额,且消费者价格敏感度越大,补贴率的增加对用户数量增长的促进作用越大;(2)从动态和长期看,为实现可持续运营,最优补贴力度将随时间变化而呈倒U形变动趋势——初始阶段逐步加大补贴力度,过了某个时段后将逐渐降低补贴力度。文章选取中国三个主要网络零售平台上市财报数据进行经验分析,证实了数理模型推导出的主要结论。文章回答了网络零售平台是否应采取补贴策略、补贴力度的确定以及补贴力度如何随时间而变化等基本问题,对理解网络零售平台补贴策略的基本逻辑,对优化网络零售平台治理,均有重要的借鉴价值。

Based on the two-sided market theory and the classic oligopoly model,this paper deduces the selection of long-term dynamic optimal subsidy rate with numerical simulation method after deriving the static results of online retail platform competition,and studies the application of subsidy strategy in online retail platform competition.The derivation of mathematical model shows that:(1) In the short term,in order to " survive" in the fierce competition,online retail platforms obtain more users and higher market share through subsidies,and the greater the price sensitivity of consumers,the higher the promotion effect of the increase of subsidy rate on the growth of users;(2) From a dynamic and long-term perspective,in order to achieve sustainable operation,the optimal subsidy intensity will show an inverted U-shaped change trend over time,that is,the subsidy intensity will be gradually increased in the initial stage and gradually reduced after a certain period of time.This paper also selects the listed financial report data of three major online retail platforms in China for empirical analysis,which confirms the main conclusions derived from the mathematical model.This paper answers the basic questions such as whether online retail platforms should adopt a subsidy strategy,the determination of subsidy intensity,and how the subsidy intensity changes over time.It has important reference value for understanding the basic logic of the subsidy strategy of the online retail platform and optimizing the governance of the online retail platform.