“…In addition to increasing the efficiency of the market, successful multisided platforms create and rely on network externalities which benefit both buyers, through lower fees and increased match quality, and sellers, through increased market size (Armstrong, 2006;Rochet & Tirole, 2004). As a result, in markets where platforms emerge, incumbent firms often face increased competition, or even displacement, while platform participants correspondingly benefit from increases in market efficiency (Byers, Proserpio, & Zervas, 2013;Chakravorti & Roson, 2005;Parker & Alstyne, 2005;Seamans & Zhu, 2014;Tucker & Zhang, 2010).…”