Virtual virtuous cycles. Mapping value structure in digital platforms and online communities realms

Abstract

The term 'market' is increasingly synonymous with 'platform.' The combined annual revenues of the top five platforms alone surpass USD 7 trillion. Benefits can lead to further gains, with effects extending beyond just economic value. Recognising and assessing the values of these open infrastructures is essential, as the values perceived by stakeholders connected to an infrastructure are critical to the achievement of their own objectives. This paper represents the first comprehensive attempt to structure the diverse types of value presented by digital platforms and their associated online communities. A bibliometric analysis identifies the five clusters addressing values in these fields: digital platforms, ecosystems, and business models; online communities and co-creation, knowledge sharing, sharing economy; and social networks and social media infrastructures. Second, a review provides insights into how core studies from these disciplines approach values and offers a classification of the types of value identified. Our research indicates that, with very few exceptions, the concept of value is addressed in studies in a way that fails to fully capture the diversity of the term, focusing predominantly on the utilitarian dimension. This reflects a pursuit of rational satisfaction, albeit of a lower dignity order and with pointed psychological detachment.