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The two-sided trade fair market: Identifying attributes and value creation management

Author

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  • Kirill V. SIMONOV

    (Lomonosov Moscow State University)

Abstract

The paper examines a two-sided market on a multi-sided platform of an exhibition company and looks at the technology of market formation, its specific features, the concept of value creation management and conditions for its implementation. Methodologically the research rests on Rochet-Tirole’s theory of two-sided markets, as well as industrial organization theory, entrepreneurship theory, general management theory, logistics theory and general systems theory. The author uses the methods of analysis, decomposition, synthesis, abstraction, generalization, deduction and axiomatic method. For the trade fair organizer, the article presents the author’s versions of the main business process and the process model of managed transformation of a platform’s resources and its parties into the organizer’s intermediary services. The study proves that a two-sided trade fair market exhibits some identifying attributes that allow categorizing it as a Rochet-Tirole market. It substantiates the concept of value creation management, where the number of exhibitors and visitors is the target function, and the price structure of the organizer’s services is the tool for initiating control actions. The research details the system- and process-related specificity of the logistic support for the organizer’s activity. The findings provide the basis for the theory of two-sided trade fair market and should encourage the scientific support level for the exhibition business.

Suggested Citation

  • Kirill V. SIMONOV, 2019. "The two-sided trade fair market: Identifying attributes and value creation management," Upravlenets, Ural State University of Economics, vol. 10(4), pages 24-37, September.
    • Handle: RePEc:url:upravl:v:10:y:2019:i::p:24-37
    DOI: 10.29141/2218-5003-2019-10-4-3
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    References listed on IDEAS

    as
    1. Marc Rysman, 2009. "The Economics of Two-Sided Markets," Journal of Economic Perspectives, American Economic Association, vol. 23(3), pages 125-143, Summer.
    2. Jean-Charles Rochet & Jean Tirole, 2003. "Platform Competition in Two-Sided Markets," Journal of the European Economic Association, MIT Press, vol. 1(4), pages 990-1029, June.
    3. Jean‐Charles Rochet & Jean Tirole, 2006. "Two‐sided markets: a progress report," RAND Journal of Economics, RAND Corporation, vol. 37(3), pages 645-667, September.
    4. Andrei Hagiu, 2006. "Pricing and Commitment by Two-Sided Platforms," RAND Journal of Economics, The RAND Corporation, vol. 37(3), pages 720-737, Autumn.
    5. Shapley, Lloyd & Scarf, Herbert, 1974. "On cores and indivisibility," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 23-37, March.
    6. David Evans & Richard Schmalensee, 2007. "The Industrial Organization of Markets with Two-Sided Platforms," CPI Journal, Competition Policy International, vol. 3.
    7. David S. Evans & Richard Schmalensee, 2013. "The Antitrust Analysis of Multi-Sided Platform Businesses," NBER Working Papers 18783, National Bureau of Economic Research, Inc.
    8. Mark Armstrong Author-Email: mark.armstrong@ucl.ac.uk Author-Workplace-Name: University College of London, 2006. "Competition in Two-Sided Markets," RAND Journal of Economics, The RAND Corporation, vol. 37(3), pages 668-691, Autumn.
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    More about this item

    Keywords

    trade fair; discrete sequence; platform; transaction; network effects; logistic system.;
    All these keywords.

    JEL classification:

    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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