A Price Theory of Multi-Sided Platforms: Comment
指出Weyl(2010)关于多边平台利润最大化导致经典扭曲和Spence扭曲的关键公式有误,其结论仅解释定价的边际激励,而非价格总扭曲。
Weyl (2010) shows that in multi-sided platform settings, profit maximization leads to classical and Spence distortions, with the Spence distortion providing a new explanation for why prices may sometimes be too high (or too low) on platforms. However, the key formulas that Weyl gives comparing privately and socially optimal prices are misstated. Properly interpreted, his results only explain marginal incentives with respect to setting prices but not the total distortion in prices, which can be very different.