Abstract: As an emerging form of e-commerce, live commerce is developing rapidly. However, there is a common phenomenon of value co-destruction on live commerce platform, which is manifested in differences of objectives among the platform, anchor and buyer, as well as abuse of resources. In order to analyze the influence of the behavior strategies of each subject in the live commerce platform ecosystem on the risk of value co destruction, an evolutionary game model of “platform anchor buyer” value co-destruction is constructed. The payment matrix is established to analyze the interaction behavior and stable state. Numerical simulation is used to verify the correctness of the stable results, and the values of punishment, incentive and network externality income distribution coefficient are adjusted to study their impact on the evolution results. The results show that: the degree of punishment and incentive can affect the phenomenon of co-destruction of value. The greater the punishment degree is, the weaker the governance effect will be. When the incentive degree is too large, the platform and anchors will have behavior shock, and the probability of co-destruction of value will increase; the increase of revenue distribution coefficient plays a positive role in restraining the co-destruction of platform value. In the process of game, the strategic choice of live commerce platform plays a guiding role in the behavior of anchors and buyers. Therefore, live commerce platform needs to establish a responsibility mechanism to lead the governance of value co-destruction of all subjects.

Key words: live commerce platform; value co-destruction; evolutionary game theory