在數位科技的連結與催化之下，包含平台、商業生態系統及平台生態系統等相關之策略已成為策略管理領域的重要研究議題之一。網絡外部性的發揮是平台策略的焦點，而價格補貼策略則是平台誘發網絡外部性的重要機制。但價格補貼是一項容易模仿的策略，且會侵蝕平台的營運績效，價格補貼策略真的能夠為平台帶來網絡效應嗎？過去的研究結論一直存在「雞生蛋、蛋生雞」的矛盾爭議。我們對於價格補貼策略的運用與平台營運績效之間的關係所知仍然有限，基於相關研究的爭議，本研究以交易型平台為研究對象，主要研究問題為：價格補貼策略的運用如何影響交易型平台營運績效的路徑與情境？本研究針對72家交易型平台的問卷資料進行分析，結果顯示，價格補貼策略運用強度對於交易型平台的營運績效有負向的影響，同時，價格補貼策略會透過多平台參與的增加對營運績效產生負向的影響，平台服務條款對單邊市場的嚴格程度也會強化價格補貼策略透過多平台參與對營運績效的負向影響。

Platforms, business ecosystems, and platform ecosystems have rapidly developed into important business models through the connection and catalysis of digitalization. Therefore, the strategies of a platform are an essential issue in strategic management. Platform strategies leverage the price subsidy strategy to induce the network externality. However, price subsidy is a strategy that is easy to imitate and will erode the performance outcome of the platform. Can price subsidies bring network effects to the platform? This has led to the controversy of “chicken-and-eggs”. Our knowledge regarding the relationship between price subsidy and platform operating performance is still limited. Based on the debates of prior research, by using e-commerce platforms as the research object, this study aims to answer the following research question: what is the path and contingency that the price subsidy strategy influences the performance outcome of e-commerce platforms? Evidence from 72 e-commerce platforms shows that the intensity of using a price subsidy strategy can hurte-commerce platform performance. Multi-homing plays a mediating role in the relationship between price subsidy strategy and e-commerce platform performance. Strictness of platform service terms for unilateral markets can moderate the relationship among multi-homing, price subsidy strategy, and e-commerce platform performance.