Decoding the dynamics of knowledge pricing: An empirical investigation of MOOC platform edX's pricing structure and signaling effects

As online education gains popularity during the Pandemic, Massive Open Online Courses (MOOCs) re-emerged as an essential mode of learning. A MOOC can be treated as a knowledge product and, MOOC platforms, therefore, become marketplaces for participants to trade these products. Price, as a critical market factor, performs a role in determining consumers' enrolment and purchase intentions and behaviors. However, relevant research on the pricing structure and the prices' effect is limited. Thus, we provide a systematic analysis of edx.org, a major MOOC platform, and four studies were conducted to investigate the pricing structure, identifying various strategies, explore the price signaling effect on enrolment, and to assess the relative strength of signals on potential learners' enrolment attitudes. The findings offer insights for developing effective pricing strategies and managing online knowledge markets. This research also contributes to a thriving knowledge market, facilitating accessible and high-quality education for learners worldwide.