Abstract
Competition policy faces new challenges in its application to digital markets and online platforms. This article develops an analytical framework that rests on three pillars: (a) only conduct that, by restricting competition, reduces long-term social welfare should be prohibited; (b) in applying such a rule, it is important to bear in mind that, under imperfect information, a decision-maker’s task is to minimise the risk and cost of both false convictions and false acquittals: (c) dynamic efficiency is a key driver of long-term social welfare, economic growth and productivity. The article goes on to apply this framework to three specific issues that are debated in relation to digital markets and online platforms: (a) market definition; (b) barriers to entry, including data and Big Data; (c) innovation.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
