Which industries are served by online marketplaces for technology?

Dushnitsky, G and Klueter, T (2017) Which industries are served by online marketplaces for technology? Research Policy, 46 (3). pp. 651-666. ISSN 0048-7333

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Abstract

This study investigates a recent phenomenon in the market for technology: online marketplaces for technological inventions, which support the listing, search, and exchange of technological inventions by sellers and buyers. Focusing on three salient theoretical factors that affect markets for technology – search costs, ambiguity about the underlying knowledge and its applications, and expropriation concerns – our research systematically explores which industries are served by online marketplaces. We exploit the fact that the magnitude of these factors varies across industries and identify key features of online marketplaces that may address these factors. Our proprietary dataset covers 12 online marketplaces for technology and spans over 140 industries. The results indicate that online marketplaces are more likely to serve an industry with (a) a higher cost of searching for technologies in that industry, (b) greater ambiguity about the underlying technology’s potential applications across industries, and (c) greater ability to protect inventions from expropriation.

Item Type: Article
Additional Information: © 2017 Elsevier B V
Subjects: M > Market segmentation
T > Technology
Subject Areas: Strategy and Entrepreneurship
DOI: 10.1016/j.respol.2017.01.011
Date Deposited: 27 Jan 2017 11:58
Last Modified: 08 Mar 2017 15:50
URI: http://lbsresearch.london.edu/id/eprint/696

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