Pricing Strategy Of Public Crowd-funding Platform In Bilateral Market

The arrival of the era of big data has laid the foundation for the development of Internet finance,and promoted the rapid development of the third party payment,P2P and crowd raising industries.In April 2009,the first professional public platform Kick Starter in the United States was officially launched,and then the domestic public platform,such as the naming time,the dream net,the public network and so on,began to develop in full swing.As a new financing mode emerging in the Internet era,the public is combined by combining the financing needs of the enterprise with the public investment demand,which strongly supports the mission of "supporting the masses innovation and helping all the people to start a business".The crowd raising platform is not only an effective intermediary for investment and financing,but also a key role in promoting the development of the public sector.How to formulate appropriate price strategy to effectively play the role of crowd raising platform is the problem that this article needs to explore.In this paper,the pricing strategy of public financing platform is taken as the research object,using the full information dynamic game model,the Armstrong model and the Hotelling model in the bilateral market theory,the different pricing strategies of the platform under the monopoly market and the oligopoly market in the early,medium and mature stages of the industry development are analyzed,and the projects are also analyzed.The influence of the coefficient of quality and the sensitivity coefficient of investors to the project quality on the platform pricing has been supplemented and verified by numerical simulation.First,under the monopoly market,in the early stage of the industry development,the price set by the platform to the investor is lower than the price to the project sponsor.In the middle period of the industry development,the price gap between the platform and the bilateral users will be reduced until the level is flat.In the mature period of the industry,the platform is to the investor.The price is higher than the price set by the project sponsor;second,in the oligopoly market,at the beginning of the industry,the two platforms use lower prices and even price subsidies for bilateral users.In the middle of the industry,high quality projects have more prices than low quality for bilateral users.At the maturity of the industry,the platform will subdivide the market and adopt diversified pricing strategies or two level price discrimination based on different types of projects and different preferences.