Advanced Introduction to Platform Economics

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.

This cutting edge book introduces the origins and consequences of digital platforms, examining how artificial intelligence-enabled digital platforms collect and process data from and about users by providing social media and e-commerce services. Robin Mansell and W. Edward Steinmueller compare and contrast neoclassical, institutional and critical political economy approaches. They show how uneven power relationships between platform operators and their users are analysed in different economic traditions.

Key features include:

• analysis of economic and public values
• provides a foundation for platform regulation
• examines the impacts of platforms on the media industry
• challenges claims of the inevitability of platform dominance
• discusses key challenges, including: artificial intelligence, data sharing and competition in the digital economy.

This concise book will be indispensable for advanced undergraduate and postgraduate students of media and communication studies, innovation studies and economics, particularly those focusing on platform economics.

Artificial intelligence-enabled digital platforms collect and process data from and about users. These companies are largely self-regulating in Western countries. How do economic theories explain the rise of a very few dominant platforms? Mansell and Steinmueller compare and contrast neoclassical, institutional and critical political economy explanations. They show how these perspectives can lead to contrasting claims about platform benefits and harms. Uneven power relationships between platform operators and their users are treated differently in these economic traditions. Sometimes leading to advocacy for regulation or for public provision of digital services. Sometimes indicating restraint and precaution. The authors challenge the reader to think beyond the inevitability of platform dominance to create new visions of how platforms might operate in the future.

'This Advanced Introduction provides a much-needed analysis of digital platforms and their major influence on society. What makes Mansell and Steinmueller's book stand out is that it looks at platforms not only through the lens of neo-classical economics, but also of institutional economics and critical political economy, comprehensively demonstrating how these theories differ in their assessment of both consequences of platforms and the need for regulation and non-commercial alternatives.'
--Manuel Puppis, University of Fribourg, Switzerland

'This is a timely and useful overview of the multifaceted roles of digital platforms by two leading experts in the field. The book presents an insightful discussion of three different economic perspectives on the benefits and dangers of digital platforms. It also addresses the most critical issues concerning users, policy makers, platform operators and society as a whole, identifying reforms that may be necessary. Highly recommended for an understanding of the challenges ahead.'
--Franco Malerba, Bocconi University, Italy

'Digital platforms are the dominant new business model of the digital economy. With Advanced Introduction to Platform Economics, Mansell and Steinmueller have written a wonderfully accessible and insightful treatise which will be extremely valuable to all students who want to understand digital platforms' economic mechanisms and their social consequences.'
--Annabelle Gawer, University of Surrey, UK

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