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Demand for LLMs: Descriptive Evidence on Substitution, Market Expansion, and Multihoming
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Demand for LLMs: Descriptive Evidence on Substitution, Market Expansion, and Multihoming
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This paper documents three stylized facts about the demand for Large Language Models (LLMs) using data from OpenRouter, a prominent LLM marketplace. First, new models experience rapid initial adoption that stabilizes within weeks. Second, model releases differ substantially in whether they primarily attract new users or substitute demand from competing models. Third, multihoming, using multiple models simultaneously, is common among apps. These findings suggest significant horizontal and vertical differentiation in the LLM market, implying opportunities for providers to maintain demand and pricing power despite rapid technological advances.
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Freemium Is All You Need
Under a stylized uniform-value model, an optimal freemium policy can be expressed by two value thresholds, but the paper's case analysis and dynamic optimality claim are not correct.
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