Market Definition And Market Power In The Platform Economy

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Market Definition And Market Power In The Platform Economy

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Author : Jens-Uwe Franck
language : en
Publisher: Centre on Regulation in Europe asbl (CERRE)
Release Date : 2019-05-08

Market Definition And Market Power In The Platform Economy written by Jens-Uwe Franck and has been published by Centre on Regulation in Europe asbl (CERRE) this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-08 with Law categories.

With the rise of digital platforms and the natural tendency of markets involving platforms to become concentrated, competition authorities and courts are more frequently in a position to investigate and decide merger and abuse cases that involve platforms. This report provides guidance on how to define markets and on how to assess market power when dealing with two-sided platforms. DEFINITION Competition authorities and courts are well advised to uniformly use a multi-markets approach when defining markets in the context of two-sided platforms. The multi-markets approach is the more flexible instrument compared to the competing single-market approach that defines a single market for both sides of a platform, as the former naturally accounts for different substitution possibilities by the user groups on the two sides of the platform. While one might think of conditions under which a single-market approach could be feasible, the necessary conditions are so severe that it would only be applicable under rare circumstances. To fully appreciate business activities in platform markets from a competition law point of view, and to do justice to competition law’s purpose, which is to protect consumer welfare, the legal concept of a “market” should not be interpreted as requiring a price to be paid by one party to the other. It is not sufficient to consider the activities on the “unpaid side” of the platform only indirectly by way of including them in the competition law analysis of the “paid side” of the platform. Such an approach would exclude certain activities and ensuing positive or negative effects on consumer welfare altogether from the radar of competition law. Instead, competition practice should recognize straightforwardly that there can be “markets” for products offered free of charge, i.e. without monetary consideration by those who receive the product. ASSESSMENT The application of competition law often requires an assessment of market power. Using market shares as indicators of market power, in addition to all the difficulties in standard markets, raises further issues for two-sided platforms. When calculating revenue shares, the only reasonable option is to use the sum of revenues on all sides of the platform. Then, such shares should not be interpreted as market shares as they are aggregated over two interdependent markets. Large revenue shares appear to be a meaningful indicator of market power if all undertakings under consideration serve the same sides. However, they are often not meaningful if undertakings active in the relevant markets follow different business models. Given potentially strong cross-group external effects, market shares are less apt in the context of two-sided platforms to indicate market power (or the lack of it). Barriers to entry are at the core of persistent market power and, thus, the entrenchment of incumbent platforms. They deserve careful examination by competition authorities. Barriers to entry may arise due to users’ coordination failure in the presence of network effect. On two-sided platforms, users on both sides of the market have to coordinate their expectations. Barriers to entry are more likely to be present if an industry does not attract new users and if it does not undergo major technological change. Switching costs and network effects may go hand in hand: consumer switching costs sometimes depend on the number of platform users and, in this case, barriers to entry from consumer switching costs increase with platform size. Since market power is related to barriers to entry, the absence of entry attempts may be seen as an indication of market power. However, entry threats may arise from firms offering quite different services, as long as they provide a new home for users’ attention and needs.

The Economics Of Platforms

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Author : Paul Belleflamme
language : en
Publisher: Cambridge University Press
Release Date : 2021-11-11

The Economics Of Platforms written by Paul Belleflamme and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-11 with Business & Economics categories.

The first book on platforms that concisely incorporates path-breaking insights in economics over the last twenty years.

Natural Monopolies In Digital Platform Markets

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Author : Francesco Ducci
language : en
Publisher: Cambridge University Press
Release Date : 2020-07-23

Natural Monopolies In Digital Platform Markets written by Francesco Ducci and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-23 with Business & Economics categories.

Through three case studies, this book investigates whether digital industries are naturally monopolistic and evaluates policy approaches to market power.

Digital Markets And Online Platforms New Perspectives On Regulation And Competition Law

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Author : Jan Krämer
language : en
Publisher: Centre on Regulation in Europe (CERRE)
Release Date : 2020-11-18

Digital Markets And Online Platforms New Perspectives On Regulation And Competition Law written by Jan Krämer and has been published by Centre on Regulation in Europe (CERRE) this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-18 with Law categories.

Across the world, regulators and policy makers are grappling with how to establish a competitive, safe and fair online environment that also safeguards users’ fundamental rights as citizens. Ahead of the European Commission’s Digital Markets Act (DMA), this book “Digital markets and online platforms: new perspectives on regulation and competition law“, presents CERRE’s latest contribution to the debate with concrete policy recommendations. Together, the policy recommendations in this book present a roadmap that should be pursued for EU policy makers to safeguard competition and innovation in digital platform markets. They can be organised into three key areas for action: (i) More effective enforcement, (ii) increased transparency and switching easiness, and (iii) providing access to key innovation capabilities. “The need to safeguard fair and vibrant competition, which is also seen as an important driving factor for innovation, is nothing new for policy makers. However, the characteristics and complexities of digital markets have challenged some of the traditional approaches.” – Jan Krämer, editor of the book and CERRE Academic Co-Director The book’s recommendations highlight that platform transparency and associated data collection by authorities, as well as data sharing by platforms (initiated through consumers or authorities), are the two most important overarching policy measures for platform markets in the near future. They facilitate enforcement, consumer choice, and innovation capabilities in the digital economy. The contents of this book were presented and debated during a CERRE live debate with guest speakers Anne Yvrande-Billon (Arcep’s Director of Economic, Market and Digital Affairs), MEP Stéphanie Yon-Courtin (Vice-President of the European Parliament’s Committee on Economic and Monetary Affairs) and Javier Espinoza (Financial Times’ EU Correspondent covering competition and digital policy).

Platform Revolution How Networked Markets Are Transforming The Economyand How To Make Them Work For You

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Author : Geoffrey G. Parker
language : en
Publisher: W. W. Norton & Company
Release Date : 2016-03-28

Platform Revolution How Networked Markets Are Transforming The Economyand How To Make Them Work For You written by Geoffrey G. Parker and has been published by W. W. Norton & Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-28 with Business & Economics categories.

A practical guide to the new economy that is transforming the way we live, work, and play. Uber. Airbnb. Amazon. Apple. PayPal. All of these companies disrupted their markets when they launched. Today they are industry leaders. What’s the secret to their success? These cutting-edge businesses are built on platforms: two-sided markets that are revolutionizing the way we do business. Written by three of the most sought-after experts on platform businesses, Platform Revolution is the first authoritative, fact-based book on platform models. Whether platforms are connecting sellers and buyers, hosts and visitors, or drivers with people who need a ride, Geoffrey G. Parker, Marshall W. Van Alstyne, and Sangeet Paul Choudary reveal the what, how, and why of this revolution and provide the first “owner’s manual” for creating a successful platform business. Platform Revolution teaches newcomers how to start and run a successful platform business, explaining ways to identify prime markets and monetize networks. Addressing current business leaders, the authors reveal strategies behind some of today’s up-and-coming platforms, such as Tinder and SkillShare, and explain how traditional companies can adapt in a changing marketplace. The authors also cover essential issues concerning security, regulation, and consumer trust, while examining markets that may be ripe for a platform revolution, including healthcare, education, and energy. As digital networks increase in ubiquity, businesses that do a better job of harnessing the power of the platform will win. An indispensable guide, Platform Revolution charts out the brilliant future of platforms and reveals how they will irrevocably alter the lives and careers of millions.

Antitrust Analysis Of Platform Markets

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Author : David Sparks Evans
language : en
Publisher:
Release Date : 2019-12-16

Antitrust Analysis Of Platform Markets written by David Sparks Evans and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-16 with Law categories.

This book compiles a set of pieces on the implications of the U.S. Supreme Court's ruling in Ohio et. al. v. American Express and the preceding litigation for the treatment of multisided platforms under U.S. antitrust law. The authors consider that the Supreme Court ruling provides valuable guidance for antitrust analysis in such markets.

Law And Economics Of Article 102 Tfeu

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Author : Robert O'Donoghue KC
language : en
Publisher: Bloomsbury Publishing
Release Date : 2020-09-03

Law And Economics Of Article 102 Tfeu written by Robert O'Donoghue KC and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-03 with Law categories.

“A reference book in this area of EU competition law and a must-have companion for academics, enforcers and practitioners alike, as well as EU and national judges.” Judge Nils Wahl, Court of Justice of the European Union This seminal text offers an authoritative and integrated treatment of the legal and economic principles that underpin the application of Article 102 TFEU to the behaviour of dominant firms. Traditional concerns of monopoly behaviour, such as predatory pricing, refusals to deal, excessive pricing, tying and bundling, discount practices and unlawful discrimination are treated in detail through a review of the applicable economic principles, the case law and decisional practice and more recent economic and legal writings. In addition, the major constituent elements of Article 102 TFEU, such as market definition, dominance, effect on trade and applicable remedies are considered at length. The third edition involves a net addition of over 250 pages, with a substantial new chapter on Abuses In Digital Platforms, an extensively revised chapter on standards, and virtually all chapters incorporating substantial revisions reflecting key cases such as Intel, MEO, Google Android, Google Shopping, AdSense, and Qualcomm.

Market Definition In Eu Competition Law

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Author : Miguel Sousa Ferro
language : en
Publisher: Edward Elgar Publishing
Release Date : 2019

Market Definition In Eu Competition Law written by Miguel Sousa Ferro 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 2019 with Antitrust law categories.

The maintenance of a fair, competitive market among member states is critical to the functioning of the EU economy. In this book, the first comprehensive, unifying view of market definition, Miguel Ferro adeptly explores the different economic-legal issues that arise in EU competition law.

Platform Revolution

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Author : Geoffrey G. Parker
language : en
Publisher: National Geographic Books
Release Date : 2017-08-29

Platform Revolution written by Geoffrey G. Parker and has been published by National Geographic Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-29 with Business & Economics categories.

A practical guide to the new economy that is transforming the way we live, work, and play. Uber. Airbnb. Amazon. Apple. PayPal. All of these companies disrupted their markets when they launched. Today they are industry leaders. What’s the secret to their success? These cutting-edge businesses are built on platforms: two-sided markets that are revolutionizing the way we do business. Written by three of the most sought-after experts on platform businesses, Platform Revolution is the first authoritative, fact-based book on platform models. Whether platforms are connecting sellers and buyers, hosts and visitors, or drivers with people who need a ride, Geoffrey G. Parker, Marshall W. Van Alstyne, and Sangeet Paul Choudary reveal the what, how, and why of this revolution and provide the first “owner’s manual” for creating a successful platform business. Platform Revolution teaches newcomers how to start and run a successful platform business, explaining ways to identify prime markets and monetize networks. Addressing current business leaders, the authors reveal strategies behind some of today’s up-and-coming platforms, such as Tinder and SkillShare, and explain how traditional companies can adapt in a changing marketplace. The authors also cover essential issues concerning security, regulation, and consumer trust, while examining markets that may be ripe for a platform revolution, including healthcare, education, and energy. As digital networks increase in ubiquity, businesses that do a better job of harnessing the power of the platform will win. An indispensable guide, Platform Revolution charts out the brilliant future of platforms and reveals how they will irrevocably alter the lives and careers of millions.

Market Investigations

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Author : Massimo Motta
language : en
Publisher: Cambridge University Press
Release Date : 2022-01-06

Market Investigations written by Massimo Motta and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-06 with Business & Economics categories.

Increased concentration and rising market power require new rules. Market investigations are necessary to complement existing regulations.