Inhalt

Abstract:

In today’s digital economy, platforms have become pervasive, profoundly transforming the landscape of industries ranging from social media to e-commerce, payment systems, and operating systems. These platforms, acting as intermediaries in varied settings such as Booking.com, Amazon, iOS, and Tinder, facilitate complex interactions across business-to-business, business-to-consumer, and peer-to-peer environments. The success of platform markets is driven by multifaceted factors, including network effects, rapid technology diffusion, and significant user switching costs. Moreover, the emergence of platform markets has catalyzed the emergence of innovative business models and novel pricing strategies that have fundamentally altered competitive dynamics and reshaped relationships between firms and consumers.

This course delves into these pivotal and contemporary issues, offering a rigorous analysis of the underlying principles that drive platform success and the strategic considerations essential for navigating this evolving digital landscape. Through a blend of theoretical foundations derived from seminal academic papers and cutting-edge empirical studies, combined with practical insights, the course equips students to critically assess and influence the trajectory of digital markets.

Learning Objectives:

After having completed the course, students will have acquired a set of competencies to effectively analyze and manage digital markets and platforms. Specifically, students will have acquired the following competencies:

• Analytical skills: Students will develop the ability to analyze the economic characteristics and dynamics of network goods and network effects, understanding their impact on product and service value, user adoption, and market competition. They will also describe digital market dynamics and assess the impact of digital technologies on business strategies and consumer behavior.
• Innovation and problem-solving: Students will cultivate skills to leverage new technologies to enhance business operations, drive innovation, and improve consumer experiences in the digital economy.
• Strategic thinking: Students will acquire the capability to formulate and implement effective strategies for digital transformation, data utilization, and artificial intelligence integration within organizations. They will gain expertise in strategic pricing and revenue management, learning to design and evaluate pricing strategies for multi-sided platforms, and balancing user acquisition, engagement, and profitability through various fee structures and tariffs.
• Regulatory knowledge: Students will gain an understanding of regulatory frameworks governing digital markets, including competition policy, data privacy, and digital rights management.
• Ethical awareness: Students will enhance their comprehension of the ethical implications of digital business practices, including algorithmic biases, data privacy, and digital addiction, and develop strategies to address these challenges.
  
  

Gliederung:

The course is divided into three major blocks (modules) that lay the foundation for understanding digital markets and platforms: "Foundational", "Platform and Ecosystems Dynamics" and "Digital markets". Each module is composed of 28 short videos and represents about 5 hours of content each. The videos are complemented with quizzes, open-ended questions, and a list of suggested readings.

Adopting a "mix and match" approach, the course is structured around self-contained chapters that allow students flexibility in how they engage with the material. This format supports personalized learning journeys, enabling students to navigate through the content at their own pace and according to their individual needs. Each block is designed to be comprehensive on its own, while also fitting seamlessly into the broader curriculum for those who follow the suggested sequence.

Students enrolled in this course will have access to a comprehensive set of learning materials designed to support both the theoretical and practical understanding of digital markets and platforms:

• A series of short instructional videos, each 6-18 minutes long, provides focused discussions on key concepts and topics. These videos are supplemented with references to academic papers and studies detailed in an accompanying reading list for deeper exploration.
• All slides used in the videos are available for download in PDF format, allowing students to review content at their own pace and use them as a study aid.
• To reinforce learning and facilitate self-assessment, the course includes a series of interactive quizzes. These are designed to test knowledge incrementally and ensure mastery of course content through immediate feedback.
• Open-ended questions are provided for self-study or group discussion, encouraging critical thinking and application of course concepts to real-world scenarios. Suggested solutions to these questions are available to the course participants.
• Course participants also have access to a mindmap that highlights the connections between chapters and topics. This mindmap suggests a sequential path through the video content. This guide offers insights into the optimal order for engaging with the videos, ensuring comprehensive coverage of all course materials for a structured learning experience.
  
  

Detaillierter Inhalt:

The course aims to provide a thorough understanding of the fundamental concepts and dynamics that define digital markets and platforms. This includes an exploration of the transformative impact of network effects, big data, and digital technologies on business models, consumer behavior, and economic policies. Students will engage in an in-depth analysis of various pricing strategies, the role of artificial intelligence, and the ethical considerations in digital business practices. Additionally, they will critically evaluate competition policy, digital rights management, and regulatory frameworks, gaining the skills needed to navigate and positively influence the digital economy.

Foundational Concepts

This module serves as an introduction to the fundamental differences between traditional goods and network goods, particularly highlighting how network effects amplify the value and adoption of these goods. Students will explore both direct and indirect network effects, using examples from industries such as social media, messaging apps, and operating systems to understand strategic business implications. They will also study cascade effects and winner-take-all markets, investigating strategies that firms can employ to create positive feedback loops and dominate markets. Additionally, two-sided markets are discussed in depth, illustrating how platforms function as intermediaries between two distinct user groups and the resulting network externalities. By the end of this module, students will be equipped to analyze and evaluate the economic and strategic considerations necessary for leveraging network effects and managing two-sided markets effectively.

Platforms and Ecosystems Dynamics

This module delves into the diverse roles and strategies of complementors within platform ecosystems, exploring how their heterogeneity impacts platform value and user experience. Discussions will include the adoption and diffusion of network goods, emphasizing the importance of reaching critical mass and the roles of early adopters. Compatibility strategies will be examined, focusing on how different types of compatibility (full, partial, one-way) influence platform dynamics and user experience. The module will also cover platform orchestration activities such as governance and incentivizing complementors, highlighting their impact on platform success. Students will study the dynamics of competition within and between platform ecosystems, developing strategies to manage competitive pressures and foster a healthy digital marketplace.

Digital Markets

This module addresses the transformative impact of big data and digital technologies on businesses and consumers, focusing on how digitization reduces costs and enhances economic efficiency. It explores pricing strategies in the digital age, such as online auctions and dynamic pricing, and their impact on consumer behavior and business revenue. The module examines competition policy in digital markets, analyzing how competition functions both for and on the market, including the complexities of platform dynamics and market power. The role of artificial intelligence in the economy is discussed, from demand forecasting to its ethical considerations, including algorithmic biases and the potential for facilitating collusion. Finally, the module looks at the social implications of digital transformation, such as digital consumer vulnerabilities and the phenomenon of digital addiction, equipping students with strategies to address these challenges.

Schwierigkeitsgrad:

Einsteiger

Lehr-/Lernform:

Virtuelle Vorlesung

Interaktionsformen mit dem System/Betreuer:

Chat, E-Mail

Interaktionsformen mit Mitlernenden:

Forum, E-Mail

Kursdemo:

zur Kursdemo

Schlagworte:

Digital Economy, Digital Markets, Digital Platforms, Digital Rights, Network Goods, Pricing, Platform Ecosystem, Artificial Intelligence

Nutzung

Zielgruppe:

Wirtschaftsinformatik für Uni-Studierende, Wirtschaftsinformatik für FH-Studierende, Wirtschaftswissenschaften für Uni-Studierende, Wirtschaftswissenschaften für FH-Studierende

Nutzbar im Studiengang:

LMU University Munich:

Bachelor BWL

TH Nuremberg Georg Simon Ohm:

Bachelor Technikjournalismus/Technik-PR

University of Passau:

• Bachelor Business Administration and Economics
• Bachelor Information Systems
• Bachelor Digital Transformation in Business and Society
  
  

Geeignet für Berufsfeld:

-

Formale Zugangsvoraussetzungen:

Course enrolment via the Virtuelle Hochschule Bayern (vhb)

Erforderliche Vorkenntnisse:

This course is designed for students with a foundational understanding of economics and business principles. Prior knowledge of the basic economic theories, including the law of demand and supply, is essential for effective participation. Students are also expected to be familiar with fundamental business concepts and economic strategies that influence market dynamics.

Erforderliche Vorkenntnisse bzgl. Handhabung der Lernplattform:

-

Verantwortlich

Trägerhochschule:

Uni München (LMU)

Anbieter:

Prof. Dr. Tobias Kretschmer

Autoren:

Tobias Kretschmer

Betreuer:

Denzel Glandel Tafur

Prüfung

Exam for "Digital Markets and Platforms"

Art der Prüfung:

schriftlicher Leistungsnachweis (Klausur)

Prüfer:

Prof. Dr. Tobias Kretschmer

Anmeldeverfahren:

Die Anmeldung erfolgt über das WWW.

Prüfungsanmeldefrist:

04.11.2024 09:00 Uhr bis 24.01.2025 23:59 Uhr

Prüfungsabmeldefrist:

04.11.2024 00:00 Uhr bis 24.01.2025 23:59 Uhr

Kapazität:

100

Prüfungsdatum:

07.02.2025

Prüfungszeitraum:

14:00 bis 15:00

Prüfungsdauer:

60 Minuten

Prüfungsort:

LMU University Munich and University of Passau

Zustündiges Prüfungsamt:

Examination office of the students' home university

Zugelassene Hilfsmittel:

Non-programable calculator

Formale Voraussetzungen für die Prüfungsteilnahme:

*Mandatory and important*: Registration for the exam via the vhb portal is mandatory for all. *Only for students enrolled at the University of Passau*, additional and important instructions can be found on Stud.IP (See the course "39509 Lecture: Digital Markets and Platforms mit Übung"). Please carefully read the information provided on the following page: https://studip.uni-passau.de/studip/dispatch.php/course/details?sem_id=58e05bcfc76e21f3077bf6321ed3e260.

Inhaltliche Voraussetzungen für die Prüfungsteilnahme:

Course content

Zertifikat:

Ja (Graded certificate)

Anerkennung an folgenden Hochschulen:

FH Nürnberg (GSO), Uni München (LMU), Uni Passau

Sonstige Anerkennung:

noch nicht bekannt

Online-Prüfungsan-/-abmeldung:

Ja

Bemerkung:

(The exam will be organized simultaneously in Munich and Passau)

Erforderliche Technik

Browser:

Current version of a common web browser (e.g., Chrome, Edge, Firefox)

Nutzungsbedingungen

Gebühren:

Nein

Nutzungsentgelte:

für andere Personen als (reguläre) Studenten der vhb Trägerhochschulen nach Maßgabe der Benutzungs- und Entgeltordnung der vhb

Copyright:

All course materials belong to ISTO, LMU School of Management, LMU Munich

Hinweise zur Nutzung:

The material can used by course participants for their learning activities and exam preparation.