Abstract: The accelerated evolution of digital platforms catalyzes profound transformations in production modalities, commercial protocols, and the distribution and refinement of industrial assets. This has contributed to successful platform-centric enterprises in the marketplace. Subsidies by e-commerce platforms have attracted attention nationwide.During an initial expansion of a platform, subsidy strategy generally promotes rapid growth, allowing the platform to quickly take the market share. Nevertheless, as the platform reaches maturation, it has raised a question regarding the sustainable advantage of a predatory subsidy approach. Drawing upon principles from economics and management studies, this article investigates the following questions: Firstly, does the magnitude of subsidy strategy profoundly influence the velocity of platform escalation? Secondly, amidst the mechanisms wherein subsidy strategy stimulates platform evolution, which mitigating variables could temper this progression? Thirdly, does the strategy of subsidy hold empirical merit? Fourthly, what determinants shape the sustainability of a subsidy strategy approach?
This research formulates a model encapsulating the dynamics of a monopolistic platform landscape, and carefully analyzes the sustainability of aggressive subsidy tactics. From an economic vantage point, this paper scrutinizes the selective pricing modalities embraced by platform-centric enterprises. By making a framework in a bilateral marketplace, including e-commerce infrastructures, vendors, and digital clientele, the investigation suggests, via model refinement and elucidation, the determinants modulating subsidy paradigms by online commerce establishments. This paper proposes a paradigm of a monopolistic platform marketplace to carefully examine the viability of subsidy stratagems. It scrutinizes the disparate pricing stratagems by platform enterprises through an economic lens. Within a monopolistic marketplace,considering a diminishing influx of new users, this paper quantitatively assesses the ramifications of subsidies including three scenarios: customary charges to users, inducements for newcomers, and the partial exodus of seasoned users. Our investigation suggests that the determinants, including the conversion metrics of user incentives, the cumulative expenditure in formulating user subsidy profiles, and the chronology of subsidies, influence the efficacy of the stratagem. The inquiry includes: Firstly, within a monopolistic market framework, the incentives increase with the rising conversion metrics of novice users. Secondly, a predatory inducement stratagem is embraced when the fiscal outlay for user profiling remains beneath a designated benchmark. Thirdly, predatory incentive stratagems predominantly operate on an early market phases, and their merits decrease over temporal progression. Grounded upon these findings, we proffer the subsequent suggestions: for government, emphasis should be placed on championing platform autonomy, and thwarting undue bureaucratic encroachments. Moreover, against the background of digitalized economy, oversight agencies must bolster their supervisory rigor to safeguard the rights of consumers. Pertaining to platform, perpetual vigilance towards market dynamics is imperative, acknowledging the latent prospects for market evolution, and maintaining profound cognizance of their incentive stratagem ramifications.

Key words: platform subsidy strategy, the growth rate of users, platform economy, transfer costs

摘要： 近年来,各大电商平台的补贴性杀熟现象在国内受到广泛关注。在平台的初始扩张期,补贴策略在总体上有利于平台的快速扩张,使平台能够迅速占领市场。但是,当平台进入成熟期时,杀熟性补贴策略是否仍为占优策略,是一个值得关注的问题。本文经研究证明,用户的补贴转化率、平台构建用户补贴画像总成本,以及补贴时机选择等变量,对策略的实施效果有影响。通过建立优化模型,本文所得结论如下。第一,在垄断市场结构下,补贴力度随着新用户对补贴的转化率的上升而上升;第二,当平台实施补贴策略的用户画像成本小于一定阈值时,就会采补贴性杀熟策略;第三,只有在市场早期阶段才会采用补贴性杀熟策略,并且补贴策略的优势会逐渐变小。建议政府相关部门应该对平台自治自洽加以高度重视,防止政府过度干预阻碍市场创新。并建议平台企业要时刻关注平台所处的市场条件,对平台策略的实施效果应做到充分的认知。

关键词: 平台补贴定价策略, 平台用户增速, 平台经济, 转移成本