垄断企业的流量定价与渠道选择  

Traffic Pricing and Channel Selection by Monopoly Firms

作　　者：周泽雨 翁翕[1] 程协南 Zeyu Zhou;Xi Weng;Xienan Cheng(Guanghua School of Management,Peking University)

机构地区：[1]北京大学光华管理学院

出　　处：《经济管理学刊》2025年第1期25-74,共50页Quarterly Journal of Economics and Management

基　　金：国家自然科学基金重大项目(72192843);国家自然科学基金杰出青年项目(72225001);北京市社会科学基金青年学术带头人项目(21DTR008)。

摘　　要：近年来中国平台经济快速发展,在经济社会全局中的地位和作用日益凸显。互联网流量作为平台经济的核心要素,其与平台经济之间的内在联系亟待考察。鉴于此,本文建立了一个允许企业为流量定价的基于Hotelling模型的平台双寡头垄断模型,并发现,根据消费者对商品估值与其渠道忠诚度之间相关性的差异,存在三种不同形态的市场均衡,分别为企业多渠道引流、市场完全覆盖的均衡,企业多渠道引流、市场部分覆盖的均衡,以及企业单渠道引流、市场部分覆盖的均衡。之后,本文分析了平台获客成本变化和市场细分程度变化对社会福利的影响,并根据消费者类型差异分别为各类市场提出针对性的政策建议。In recent years,China's platform economy has developed rapidly,and its position and role in the overall economic and social development have become increasingly prominent.As a core element of the platform economy,the intrinsic relationship between Internet traffic and the platform economy needs to be examined.Internet Celebrity Economy/Influencer Economy refers to the phenomenon where creators/influencers on video-sharing and live-streaming platforms leverage their fame or talents to attract followers and then monetize the traffic through collaborations with businesses.The high loyalty,strong stickiness,and long retention time of the streamers'fans significantly differentiate them from casual viewers.The direct competition among streamers underscores the importance of analyzing the oligopolistic nature of traffic entry points.An interesting fact is that manufacturers of different categories often adopt different live-streaming e-commerce marketing models.Some product promotion links seem to be everywhere.Some merchants place advertisements on all platforms and multiple channels without distinguishing channel attributes.There even appears a contradictory situation where game zone anchors and knowledge zone anchors recommend the same product at the same time.Some merchants also place advertisements on multiple channels,but mainly in the form of pre-sales or flash sales,with a small amount of supply and no large-scale promotion.Other merchants focus on highlighting the“channel exclusive”feature in promotion,with limited release as the main selling point.This paper argues that the differentiation of marketing models is related to product categories to a certain extent.Unlike registered users of traditional platforms,potential consumers in the field of live-streaming e-commerce often exist in the form of fans of anchors or brands.Fan attribute is the most distinct personal characteristic of the audience of live-streaming sales.The“die-hard”audience of anchors or brands stay in the live-streaming room frequentl

关 键 词：流量渠道 寡头垄断 流量决策 

分 类 号：F062.9[经济管理—政治经济学] F49