Geoffrey G. Parker

Geoffrey G Parker is a scholar whose work focuses on distributed innovation, energy markets, and the economics of information. He co-developed the theory of two-sided markets with Marshall Van Alstyne.

Geoffrey G. Parker
Born
Dayton, Ohio
CitizenshipUnited States of America
Alma mater
Known forTwo-sided markets
Scientific career
FieldsManagement Science
Information Economics
InstitutionsDartmouth College
Tulane University
MIT Center for Digital Business

His current research includes studies of platform business strategy, data governance, and technical/economic systems to integrate distributed energy resources.

Parker is Professor of Engineering and Director, Master of Engineering Management, (MEM) Thayer School of Engineering at Dartmouth College, the first national research university to graduate a class of engineers with more women than men. He has set the Thayer School of Engineering apart with the introduction of Data Analytics and Platform Design classes, emphasizing the business aspects of engineering and giving engineers the background they need to be business innovators and entrepreneurs. Parker is part of a unique culture that is breaking gender barriers.

Parker is also a Faculty Fellow at MIT and the MIT Center for Digital Business.[1] Parker is co-author of the book Platform Revolution, which was included among the 16 must-read business books for 2016 by Forbes.[2]

Early life and education

Geoffrey Parker was born in Dayton, Ohio. He received a BS in Electrical Engineering and Computer Science from Princeton University in 1986. He then completed the General Electric Company Financial Management Training Program and held multiple positions in engineering and finance at General Electric in North Carolina and Wisconsin. He obtained an MS in Electrical Engineering (Technology and Policy Program) in 1993 and a PhD in Management Science in 1998, both at the Massachusetts Institute of Technology.[3]

Career

Parker is Professor of Engineering and Director, Master of Engineering Management, Thayer School of Engineering, Dartmouth College. In addition, he is a Fellow at MIT's Initiative on the Digital Economy where he leads platform industry research studies and co-chairs the annualMIT Platform Strategy Summit.[1] Parker is a visiting scholar at the MIT Sloan School. His teaching includes platform strategy courses that provide managers the tools they need to understand the digital economy and technical courses that give students the skills they need to transform large data sets into actionable knowledge.[4] He was formerly Professor of Management Science at Tulane University where he served as Director of the Tulane Energy Institute. Parker has taught undergraduate and full-time MBA courses as well as professional MBA and executive MBA programs.[5]

Geoffrey G. Parker lectures.

Parker served as a National Science Foundation panelist from 2009 to 2011.[6] He is a senior editor for the journal Production and Operations Management, an associate editor for the journal Management Science[7] and President of the Industry Studies Association.[8] Parker is a member of General Electric’s Learning Advisory Board, consisting of academics drawn from across Africa, the United States of America and the United Kingdom, that assists in development and broadening of skills across Africa.[9]

Parker co-organizes and co-chairs the annual MIT Platform Strategy Summit, an executive meeting on platform-centered economics and management, where he stressed the growth of platforms, their welfare implications and their takeover of government functions.[10] At the same time, he co-chairs an academic meeting, the Platform Strategy Research Symposium.[11] Parker served as chair of the U.S.-Israel Energy Summit in 2014.[12]

Work

Parker has made significant contributions to the field of network economics and strategy as co-developer of the theory of two-sided markets with Marshall Van Alstyne.[13][14][15]

Parker and Van Alstyne observed that, unlike traditional value chains with cost and revenue on different sides, two-sided networks have cost and revenue on both sides, because the “platform” has a distinct group of users on each side.[16] Their approach has been described as the “chicken and egg” problem of how to build a platform.[17] They concluded that the problem must be solved by platform owners, typically by cross-subsidizing between groups or even giving away products or services for free.[18] Two-sided network effects can cause markets to concentrate in the hands of a few firms. These properties inform the strategies and antitrust law approaches at all firms involved in the network.[14]

His research includes studies of distributed innovation,[19] business platform strategy,[20] and platforms to integrate intermittent energy.[21]

Parker is a frequent keynote speaker and advises senior leaders on their organizations’ platform strategies. Before attending MIT, he held positions in engineering and finance at GE.

Publications

Parker's research has appeared in journals such as Harvard Business Review, MIT Sloan Management Review, Energy Economics, Information Systems Research', Journal of Economics and Management Strategy, Management Science, Production and Operations Management, and Strategic Management Journal. His work has also been featured on business news publications such as “MarketWatch” and Wired.[3][15][19][20][22][23]

He is the co-author of Platform Revolution: How Networked Markets Are Transforming the Economy and How to Make Them Work for You.[24] The book describes the information technologies, standards, and rules that make up platforms, and are used and developed by the biggest and most innovative global companies.[25] Forbes included it among 16 must-read business books for 2016, describing it as "a practical guide to the new business model that is transforming the way we work and live."[2]

Parker also co-wrote Operations Management For Dummies within the For Dummies franchise.[26]

Awards

Parker won the Wick Skinner Early Career Research Accomplishments Award in 2003.[27] He was given the Dean's Excellence in Teaching Award for Graduate Education at Freeman School of Business in 2014.[28]

References
  1. "Meet the IDE Team". MIT Initiative on the Digital Economy. Retrieved 30 January 2016.
  2. David Burkus (10 January 2016). "16 Must-Read Business Books For 2016". Forbes. Retrieved 30 January 2016.
  3. "Geoffrey G. Parker". Thayer School of Engineering at Dartmouth. Retrieved 30 January 2016.
  4. Miester, Mark (2016-01-08). "Tulane University - New concentration helps MBAs make sense of big data". Archived from the original on 2016-01-08. Retrieved 2018-06-20.
  5. "Geoffrey G. Parker - UC Davis Graduate School of Management". UC Davis Graduate School of Management. Retrieved 2018-06-20.
  6. Freeman. "Research: Faculty Research in Brief".
  7. "Digital Business at MIT | About - Fellows". 2011-09-24. Archived from the original on 2011-09-24. Retrieved 2018-06-20.
  8. Deal, Michael. "Geoff Parker, ISA Board of Directors". www.industrystudies.org. Retrieved 2018-06-20.
  9. "GE Launches the First GE Africa Learning Advisory Board with Focus on Local Technical Skills Development". GE Africa (Lagos). 2014-01-29. Retrieved 2018-06-20.
  10. "Here's What You Missed at MIT's 3rd Annual Platform Strategy Summit". Alister & Paine. 2015-08-05. Retrieved 2018-06-20.
  11. "Reflections on the Boston Platform Strategy Summits - The Center for Global Enterprise". The Center for Global Enterprise. Retrieved 2018-06-20.
  12. "2018 Platform Strategy Summit | MIT Initiative on the Digital Economy". ide.mit.edu. Retrieved 2018-06-20.
  13. Geoffrey Parker; Marshall W. Van Alstyne (8 November 2000). "Information Complements, Substitutes, and Strategic Product Design". Social Science Research Network. SSRN 249585. {{cite web}}: Missing or empty |url= (help)
  14. Geoffrey Parker; Marshall W. Van Alstyne (2000). "Internetwork externalities and free information goods". Proceedings of the 2nd ACM conference on Electronic commerce. ACM Conference Proceedings. pp. 107–116. doi:10.1145/352871.352883. ISBN 1581132727. S2CID 17807222. Retrieved 31 January 2016.
  15. Geoffrey Parker; Marshall W. Van Alstyne (29 September 2009). "Two-Sided Network Effects: A Theory of Information Product Design". Management Science. SSRN 1177443. {{cite web}}: Missing or empty |url= (help)
  16. Henry Chesbrough (9 May 2011). "Competing for Contributors in Open Innovation". Forbes. Retrieved 30 January 2016.
  17. Gawer, Annabelle (2009). Platforms, Markets and Innovation. Google Books: Edward Elgar Publishing Limited. p. 21. ISBN 9781848440708.
  18. Jason Amaral; Edward G. Anderson Jr.; Geoffrey G. Parker (21 December 2010). "Putting It Together: How to Succeed in Distributed Product Development". MIT Sloan Management Review. MIT Sloan Review. Retrieved 31 January 2016.
  19. Thomas Eisenmann; Geoffrey Parker; Marshall Van Alstyne (December 2011). "Platform envelopment". Strategic Management Journal. 32 (12): 1270–1285. doi:10.1002/smj.935.
  20. Seabron Adamson; Thomas H. Noe; Geoffrey Parker (15 March 2010). "Efficiency of Financial Transmission Rights Markets in Centrally Coordinated Periodic Auctions". Energy Economics. SSRN 1531748. {{cite web}}: Missing or empty |url= (help)
  21. Eisenmann, Tom; Parker, Geoffrey G.; Alstyne, Marshall W. Van (October 2006). "Strategies for two-sided markets". Harvard Business Review. Retrieved 31 January 2016.
  22. Sangeet Paul Choudary; Geoffrey Parker; Marshall Van Alstyne (10 October 2013). "What Twitter knows that Blackberry didn't". Marketwatch. Retrieved 31 January 2016.
  23. "Platform Revolution". W. W. Norton. Retrieved 30 January 2016.
  24. Farhad Manjoo (20 January 2016). "Tech's Frightful 5 Will Dominate Digital Life for Foreseeable Future". The New York Times. Retrieved 29 January 2016.
  25. "Operations Management For Dummies". Wiley. Retrieved 30 January 2016.
  26. Robert H Hayes (June 2003). "The Wick Skinner Awards: Rewarding Productivity, Innovation, and Communication" (PDF). POMS Chronicle. p. 5. Retrieved 30 January 2016.
  27. "Five faculty members honored with awards". Freeman News. 7 October 2014. Retrieved 31 January 2016.
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