Algorithms Collusion And Competition Law
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Algorithms Collusion And Competition Law
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Author : Steven Van Uytsel
language : en
Publisher: Edward Elgar Publishing
Release Date : 2023-01-20
Algorithms Collusion And Competition Law written by Steven Van Uytsel and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-01-20 with Law categories.
What is algorithmic collusion? This evaluative book provides an insight into tackling this important question for competition law, with contrasting critical perspectives, including theoretical, empirical, and doctrinal – the latter frequently from a comparative perspective. Bringing together scholarly discussion on algorithmic collusion, the book questions whether competition law is adeptly equipped to deal with its various facets.
Algorithmic Collusion Its Implications For Competition Law And Policy
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Author : Kenji Lee
language : en
Publisher:
Release Date : 2019
Algorithmic Collusion Its Implications For Competition Law And Policy written by Kenji Lee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Algorithms are increasingly employed by businesses as an integral part of their business models given the availability of big data and breakthroughs in artificial intelligence technology and application. While the competition landscape has shifted to a digital environment, questions have been raised as to whether the traditional competition policy tools, formulated in the analogue era, may nevertheless remain relevant in addressing algorithmic anti-competitive practices. In particular, the unilateral use of algorithms and algorithmic tacit collusion raises enforcement challenges for the competition authorities because of the inability of existing ex-post measures to adequately address these algorithmic anti-competitive conducts. This paper discusses these issues through a critical analysis of the relevant law, economics and computer science literatures.
Virtual Competition
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Author : Ariel Ezrachi
language : en
Publisher: Harvard University Press
Release Date : 2016-11-14
Virtual Competition written by Ariel Ezrachi and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-14 with Business & Economics categories.
“A fascinating book about how platform internet companies (Amazon, Facebook, and so on) are changing the norms of economic competition.” —Fast Company Shoppers with a bargain-hunting impulse and internet access can find a universe of products at their fingertips. But is there a dark side to internet commerce? This thought-provoking exposé invites us to explore how sophisticated algorithms and data-crunching are changing the nature of market competition, and not always for the better. Introducing into the policy lexicon terms such as algorithmic collusion, behavioral discrimination, and super-platforms, Ariel Ezrachi and Maurice E. Stucke explore the resulting impact on competition, our democratic ideals, our wallets, and our well-being. “We owe the authors our deep gratitude for anticipating and explaining the consequences of living in a world in which black boxes collude and leave no trails behind. They make it clear that in a world of big data and algorithmic pricing, consumers are outgunned and antitrust laws are outdated, especially in the United States.” —Science “A convincing argument that there can be a darker side to the growth of digital commerce. The replacement of the invisible hand of competition by the digitized hand of internet commerce can give rise to anticompetitive behavior that the competition authorities are ill equipped to deal with.” —Burton G. Malkiel, Wall Street Journal “A convincing case for the need to rethink competition law to cope with algorithmic capitalism’s potential for malfeasance.” —John Naughton, The Observer
Algorithmic Tacit Collusion
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Author : Valeria Caforio
language : en
Publisher:
Release Date : 2022
Algorithmic Tacit Collusion written by Valeria Caforio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
In light of the ongoing debate on algorithmic collusion, this paper intends to answer the following question: should algorithmic tacit collusion be prohibited under EU competition law? By algorithmic tacit collusion it is meant the capability of algorithmic pricing agents to unilaterally engage into tacitly collusive strategies without human intervention (we also call it 'machine-to-machine cooperation' or 'algorithmic interdependent pricing'). Essentially, this practice raises the very same issues as the well-known oligopoly problem. Therefore, to make it prohibited one could envisage the traditional proposed solution of disentangling the categories of article 101 TFEU from the notions of an 'act of reciprocal communication between firms' or 'meeting of minds'. The paper sets out to discuss this option and its implications. It argues that, from a competition law standpoint, although algorithmic tacit collusion remains undesirable, the notions of agreement and concerted practices should not be changed to encompass it. Rather, it embraces a regulatory perspective referred to as 'algorithms by design' which relies on introducing a legal obligation for firms to program algorithms in such a way as to prevent them from setting oligopolistic prices. In particular, while exploring this regulatory proposal, the paper discusses the peculiar case of algorithms that, though designed not to violate antitrust law, end up charging collusive prices. In this regard, the paper develops a second proposal: it introduces the idea of 'outcome visibility' to nail firms to their responsibility. This concept implies the idea that even if firms are not aware that their pricing algorithms are implementing a collusive strategy, they cannot ignore their visible market outcome.
The Fundamental Unimportance Of Algorithmic Collusion For Antitrust Law
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Author : Thibault Schrepel
language : en
Publisher:
Release Date : 2020
The Fundamental Unimportance Of Algorithmic Collusion For Antitrust Law written by Thibault Schrepel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
Antitrust and competition law is subject to increasing polarization, especially regarding Internet giants. Some scholars argue that the tech giants abuse their dominant positions, while others point to the increase they contribute to consumer welfare. These two camps seem irreconcilable, mainly because they are not discussing the same thing.There is, however, a broad consensus on antitrust and competition policy in the area of collusion (Section 1 of the Sherman Act in the United States, Article 101 of the TFEU in Europe). Few economists and lawyers would defend the beneficial effects of anti-competitive collusion for consumers. In fact, cartels are regularly described as being “the supreme evil of antitrust,” a quasi-moralist assertion on which the academic community seems to have found a point of agreement. On that basis, algorithmic collusion is now the focus of much academic research. This article ambitions to explain, in the absence of fundamental challenges for antitrust law, why it actually results from a publication bias (I), and why the focus should be put instead on blockchain based-collusion (II).
The Digital Economy And Competition Law In Asia
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Author : Steven Van Uytsel
language : en
Publisher: Springer Nature
Release Date : 2021-05-06
The Digital Economy And Competition Law In Asia written by Steven Van Uytsel and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-06 with Law categories.
The digital economy, broadly defined as the economy operating on the basis of interconnectivity between people and businesses, has gradually spread over the world. Although a global phenomenon, the digital economy plays out in local economic, political, and regulatory contexts. The problems thus created by the digital economy may be approached differently depending on the context. This edited collection brings together leading scholars based in Asia to detail how their respective jurisdictions respond to the competition law problems evolving out of the deployment of the digital economy. This book is timely, because it will show to what extent new competition law regimes or those with a history of lax enforcement can respond to these new developments in the economy. Academics in law and business strategies with an interest in competition law, both in Asia and more broadly, will find the insights in this edited collection invaluable. Further, this volume will be a key resource for scholars, practitioners and students.
Algorithmic Antitrust
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Author : Aurelien Portuese
language : en
Publisher: Springer Nature
Release Date : 2022-01-21
Algorithmic Antitrust written by Aurelien Portuese and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-21 with Law categories.
Algorithms are ubiquitous in our daily lives. They affect the way we shop, interact, and make exchanges on the marketplace. In this regard, algorithms can also shape competition on the marketplace. Companies employ algorithms as technologically innovative tools in an effort to edge out competitors. Antitrust agencies have increasingly recognized the competitive benefits, but also competitive risks that algorithms entail. Over the last few years, many algorithm-driven companies in the digital economy have been investigated, prosecuted and fined, mostly for allegedly unfair algorithm design. Legislative proposals aim at regulating the way algorithms shape competition. Consequently, a so-called “algorithmic antitrust” theory and practice have also emerged. This book provides a more innovation-driven perspective on the way antitrust agencies should approach algorithmic antitrust. To date, the analysis of algorithmic antitrust has predominantly been shaped by pessimistic approaches to the risks of algorithms on the competitive environment. With the benefit of the lessons learned over the last few years, this book assesses whether these risks have actually materialized and whether antitrust laws need to be adapted accordingly. Effective algorithmic antitrust requires to adequately assess the pro- and anti-competitive effects of algorithms on the basis of concrete evidence and innovation-related concerns. With a particular emphasis on the European perspective, this book brings together experts and scrutinizes on the implications of algorithmic antitrust for regulation and innovation.
Algorithmic Pricing And Tacit Collusion
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Author : Richard Steppe
language : en
Publisher:
Release Date : 2018
Algorithmic Pricing And Tacit Collusion written by Richard Steppe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Artificial Intelligence And Collusion
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Author : Steven Van Uytsel
language : en
Publisher:
Release Date : 2020
Artificial Intelligence And Collusion written by Steven Van Uytsel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
The use of algorithms in pricing strategies has received special attention among competition law scholars. There is an increasing number of scholars who argue that the pricing algorithms, facilitated by increased access to data, could move in the direction of collusive price setting. Though this claim is being made, there are various responses. On the one hand, scholars point out that current artificial intelligence is not yet well-developed to trigger that result. On the other hand, scholars argue that algorithms may have other pricing results rather than collusion. Despite the uncertainty that collusive price could be the result of the use of pricing algorithms, a plethora of scholars are developing views on how to deal with collusive price setting caused by algorithms. The most obvious choice is to work with the legal instruments currently available. Beyond this choice, scholars also suggest constructing a new rule of reason. This rule would allow us to judge whether an algorithm could be used or not. Other scholars focus on developing a test environment. Still other scholars seek solutions outside competition law and elaborate on how privacy regulation or transparency reducing regulation could counteract a collusive outcome. Besides looking at law, there are also scholars arguing that technology will allow us to respond to the excesses of pricing algorithms. It is the purpose of this chapter to give a detailed overview of this debate on algorithms, price setting and competition law.
Controlling Algorithmic Collusion
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Author : Joao E. Gata
language : en
Publisher:
Release Date : 2019
Controlling Algorithmic Collusion written by Joao E. Gata and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Algorithms have played an increasingly important role in economic activity, as they becoming faster and smarter. Together with the increasing use of ever larger data sets, they may lead to significant changes in the way markets work. These developments have been raising concerns not only over the rights to privacy and consumers' autonomy, but also on competition. Infringements of antitrust laws involving the use of algorithms have occurred in the past. However, current concerns are of a different nature as they relate to the role algorithms can play as facilitators of collusive behavior in repeated games, and the role increasingly sophisticated algorithms can play as autonomous implementers of pricing strategies, learning to collude without any explicit instructions provided by human agents. In particular, it is recognized that the use of 'learning algorithms' can facilitate tacit collusion and lead to an increased blurring of borders between tacit and explicit collusion. Several authors who have addressed the possibilities for achieving tacit collusion equilibrium outcomes by algorithms interacting autonomously, have also considered some form of ex-ante assessment and regulation over the type of algorithms used by firms. By using well-known results in the theory of computation, I show that such option faces serious challenges to its effectiveness due to undecidability results. Ex-post assessment may be constrained as well. Notwithstanding several challenges face by current software testing methodologies, competition law enforcement and policy have much to gain from an interdisciplinary collaboration with computer science and mathematics.