Category

Antitrust Law

Anu Bradford: “What is at Stake if Antitrust Regulation Fails?”

Dear readers, the Network Law Review is delighted to present you with this month’s guest article by Anu Bradford, Henry L. Moses Professor of Law and International Organization at Columbia Law School. She recently published her new book Digital Empires: The Global Battle to Regulate Technology. **** Momentum for regulating Big Tech is growing across the world. The European Union...
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Luc Soete and Sven Van Kerckhoven: “Deglobalisation and competition policy: the challenge to European economic integration”

Dear readers, the Network Law Review is delighted to present you with this month’s guest article by Luc Soete, Dean of Brussels School of Governance, Free University of Brussels (VUB) and Emeritus Professor, Maastricht University, and Sven Van Kerckhoven, Vice-Dean, of Brussels School of Governance and Research Professor European Economic Governance, Free University of Brussels (VUB). ****...
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Law over Economics in the 2023 Draft Merger Guidelines

Welcome to Crane’s Cartel, a trimonthly series where University of Michigan law professor Daniel Crane engages in hard-core mind-fixing. **** On July 19, the FTC and DOJ released the draft Merger Guidelines for public comment. Among the many headlines is the displacement by case law of formal economic analysis that had characterized former guidelines. The draft...
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W. Brian Arthur: “Some Background to Complexity Economics”

I will start with the standard neoclassical economics that I was brought up on. It is very much based on mathematics, and to make the mathematics work we are forced to make many simplifying assumptions. In nearly all models that we look at with standard neoclassical economics we are using equation-based mathematics, and we tend...
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Pierre Régibeau: “Competition Policy Enforcement in a Dynamic World”

There is little doubt that all of the sectors where Competition Policy is commonly enforced exhibit some dynamic characteristic, be it because of investments, innovation, network effects, switching costs or, more simply, entry and exit. Some of these features have long been incorporated into our standard approaches. However, a large number of academics, policy-makers or...
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James F. Moore: “Navigating the Death of Competition: The Emergence of Business Ecosystems and Beyond”

Successful executives have a keen sense of the radical uncertainties they face. This recognition of uncertainty is what pushed them to invent self-consciously co-evolving communities of businesses. By creating self-conscious communities, a group of business leaders could make a kind of shared island of strategic cooperation. (...)
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Eliana Garces: “Regulation and Competition in Digital Ecosystems: Some Missing Pieces”

Given recent developments in the digital space, one could be forgiven to think that regulators have embarked on an extensive exercise of platform design targeting the largest players in online services. Regulatory provisions in the EU and many of the remedial actions from competition investigations are limiting the ability of large platforms to operate as...
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Friso Bostoen & Nicolas Petit: “Platforms’ Treacherous Turn”

The ‘open early, closed late’ strategy is taking a heavy toll on consumers in the digital economy. The pure case of ‘open early, closed late’ occurs when a digital platform imposes prices after a period of free and unlimited supply. More generally, ‘open early, closed late’ encompasses broader forms of consumer exploitation, like when Netflix,...
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Andrea Pezzoli: “Market Definition And Market Power Evaluation In Dynamic Industries”

This brief contribution will focus on three aspects of the topic we are supposed to address. Firstly, I’ll try to provide a tentative definition of dynamic industries/markets, identifying their main characteristics. Secondly, I’ll emphasize the main challenges raised by dynamic industries for market definition and, hence, for the assessment of market power. Finally, I’ll provide...
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Beatriz Kira: “Rethinking Regulation for Dynamic Digital Ecosystems”

Examining regulatory responses to technological advancements reveals a recurring pattern. Technological innovation often paves the way for widespread commercialization and adoption. Yet, in some instances, the large-scale implementation of a technology unveils unforeseen drawbacks that cannot be predicted or thoroughly tested in controlled lab environments. As time progresses, the negative effects of these technologies become...
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Richard N. Langlois: “Ecosystems and Managers”

This session is about ecosystems and managers. One can interpret that in many ways. I want to interpret it in a way that is not perhaps what the organizers had in mind: I want to argue that ecosystems and managers are substitutes for one another. All too often, we tend to think of dynamic competition...
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Benoît Durand & Apolline Jaoui: “A Rising Trend in Market Concentration: Myth or Reality?”

Over the last couple of years, a “new conventional wisdom” (Shapiro, 2018) has emerged: there is evidence of a widespread increase in market concentration in both the U.S. and the EU economies over the last few decades. Because higher level of market concentration may reflect greater firm market power, this has fuelled concern that competition...
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Ana Malheiro: “The EU Digital Markets Act: A One-of-a-kind Regulation”

Sometimes, to understand where we are, we must first understand where we came from. The Digital Markets Act (“DMA”) is the outcome of a long reflection process that was informed by the Commission’s own antitrust enforcement experience, as well as by the realisation that some issues related to features of the digital economy were of...
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Carmelo Cennamo: “The EU Digital Markets Act: It Is Not About Markets But Ecosystem Failures!”

The Digital Markets Act (DMA) represents a new institutional framework redefining the principles of what constitutes anticompetitive behaviour and abuse of advantageous position in the digital economy, and perhaps more importantly, the domain within which such conduct is assessed. It imposes a list of obligations on firms operating large digital platforms, the so-called “gatekeepers,” to...
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Wolfgang Kerber: “Dynamic Competition, Digital Ecosystems, and Competition Policy”

The current digital transformation can be understood as a Schumpeterian revolution of the entire economy and society through an ongoing process of innovation and technological change as the most important driver of economic development. Schumpeter emphasized the importance of entrepreneurs, the creation of new products, new production technologies, and new business models (as forms of...
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