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Specialization in the marketplace for ideas

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  • Sirui Wang
  • Michael Macy
  • Victor Nee

Abstract

Organizations that compete for attention in the marketplace face a strategic decision: whether to target a specialized niche or diversify to reach a broader market. Previous research has extensively analyzed the specialization dilemma faced by for-profit firms. We extend the analysis to knowledge-sharing groups in the marketplace of ideas. Using data on over 1,500 technology groups collected from an online event-organizing platform over a fifteen-year period, we measure the effect of topical focus, rarity, novelty, and technical exclusivity on audience growth, retention, and sustained engagement. We find that knowledge-sharing groups benefit marginally by specializing in rare topics but not in new topics. The strongest predictor of growth and survival is whether the group is associated with technically sophisticated topics, regardless of the breadth of focus, even though technical topics are less widely accessible. We conclude that what matters is not how specialized the organization, but how the organization is specialized.

Suggested Citation

  • Sirui Wang & Michael Macy & Victor Nee, 2023. "Specialization in the marketplace for ideas," PLOS ONE, Public Library of Science, vol. 18(10), pages 1-18, October.
    • Handle: RePEc:plo:pone00:0293355
    DOI: 10.1371/journal.pone.0293355
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    References listed on IDEAS

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    5. Puay Khoon Toh & Taekyu Kim, 2013. "Why Put All Your Eggs in One Basket? A Competition-Based View of How Technological Uncertainty Affects a Firm’s Technological Specialization," Organization Science, INFORMS, vol. 24(4), pages 1214-1236, August.
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