From Predation Symbiosis to Mutualism Symbiosis: Research on the Survival Strategy of P2P Online Loan Platform Based on Moral Hazard and Reputation Value Analysis

Abstract

Abstract: The survival problems exposed in the current P2P platform operation are mainly related to the "Predation Symbiosis" strategy commonly used in the development of P2P online lending platform in the early stage. The identifiability of borrower default probability, the value of physical collateral, the probability of discovery of platform moral hazard behavior, the punishment power and the social average discount coefficient are gradually increased along with the reputation construction, and the fee rate and reputation construction cost gradually decrease, the utility of platform "Predation Symbiosis" strategy has experienced a high-to-low change process, while the value of reputation brought to the platform has experienced a process of change from low to high, and the strategy of "Predation Symbiosis" has gradually been replaced by the strategy of "Mutualism Symbiosis".

Key words: predation symbiosis, Mutualism Symbiosis, moral hazard, reputation value, survival strategy

Xue Weixian, Zuo Li. From Predation Symbiosis to Mutualism Symbiosis: Research on the Survival Strategy of P2P Online Loan Platform Based on Moral Hazard and Reputation Value Analysis[J]. Management Review, 2021, 33(1): 23-36.

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