« Back to all events

Multisided Market Theory – Doctrinal and Normative Implications in Competition Policy & Regulation

Dates:
  • Thu 16 Apr 2020 15.00 - 17.00
  Add to Calendar 2020-04-16 15:00 2020-04-16 17:00 Europe/Paris Multisided Market Theory – Doctrinal and Normative Implications in Competition Policy & Regulation

This intensive course explores the legal and regulatory consequences of the economic theory of multisided markets. To date, no comprehensive attempt has been made to unearth the various doctrinal and normative implications of multisided market theory. This is unfortunate. As cases follow each other in an uncoordinated fashion, an applied version of multisided markets theory is taking shape, fuelled by intense enforcement and regulatory initiatives against platform firms operating in digital markets. Until now, multisided market theory has predominantly been used in support of exoneration claims by defendants in antitrust and regulatory proceedings (with more or less success). In its 2018 opinion in Ohio v. American Express Co., the US Supreme Court relied on the theory to affirm a sweeping legal rule that undermines the applicability of antitrust law to transaction platforms . In the EU, by contrast, multisided market theory has raised lower obstacles to competition enforcement and regulatory initiatives (as witnessed in the area of financial and payments regulation) though it is unclear whether this is a deliberate or inadvertent decisional policy. And in some papers, it is argued that multisided market theory holds the potential to assist Government intervention through the formulation of novel theories of harm in antitrust cases and the identification of market failures worthy of regulatory remediation. The goal of this intensive course is both doctrinal and normative. It is doctrinal to the extent that it aims to take stock of the existing EU and US law applying, misapplying or disregarding multisided market theory. And it is also normative to the extent that it seeks to discover if areas of EU and US law should evolve in light of the theory. The course closes with a discussion of epistemological and ideological foundations underpinning the use of multisided market theory – and more generally of economic theory – in antitrust and regulatory policy. Put simply, the (hard) questions are the following: does multisided market theory promote the public interest by raising our stock of knowledge? Or does it further private interests by putting a drag on the role of Government in market economies. The course covers the various areas of competition law, namely anticompetitive agreements, abuse of dominance, mergers and State aid. The course also covers sector specific regulation, with a particular emphasis on the following industries and/or organisations: payments, video games, retailing and standard setting. Both EU and US text and case-law will be discussed in class. Students will be asked to (i) identify multisided market cases or regulatory initiatives that predate the formulation of the theory, and (ii) to assess whether the application of multisided market theory could have generated distinct outcomes.

This seminar will be held online using ZOOM. Registered participants will be provided with ZOOM dial-in details.

Outside EUI premises - DD/MM/YYYY
  Outside EUI premises -

This intensive course explores the legal and regulatory consequences of the economic theory of multisided markets. To date, no comprehensive attempt has been made to unearth the various doctrinal and normative implications of multisided market theory. This is unfortunate. As cases follow each other in an uncoordinated fashion, an applied version of multisided markets theory is taking shape, fuelled by intense enforcement and regulatory initiatives against platform firms operating in digital markets. Until now, multisided market theory has predominantly been used in support of exoneration claims by defendants in antitrust and regulatory proceedings (with more or less success). In its 2018 opinion in Ohio v. American Express Co., the US Supreme Court relied on the theory to affirm a sweeping legal rule that undermines the applicability of antitrust law to transaction platforms . In the EU, by contrast, multisided market theory has raised lower obstacles to competition enforcement and regulatory initiatives (as witnessed in the area of financial and payments regulation) though it is unclear whether this is a deliberate or inadvertent decisional policy. And in some papers, it is argued that multisided market theory holds the potential to assist Government intervention through the formulation of novel theories of harm in antitrust cases and the identification of market failures worthy of regulatory remediation. The goal of this intensive course is both doctrinal and normative. It is doctrinal to the extent that it aims to take stock of the existing EU and US law applying, misapplying or disregarding multisided market theory. And it is also normative to the extent that it seeks to discover if areas of EU and US law should evolve in light of the theory. The course closes with a discussion of epistemological and ideological foundations underpinning the use of multisided market theory – and more generally of economic theory – in antitrust and regulatory policy. Put simply, the (hard) questions are the following: does multisided market theory promote the public interest by raising our stock of knowledge? Or does it further private interests by putting a drag on the role of Government in market economies. The course covers the various areas of competition law, namely anticompetitive agreements, abuse of dominance, mergers and State aid. The course also covers sector specific regulation, with a particular emphasis on the following industries and/or organisations: payments, video games, retailing and standard setting. Both EU and US text and case-law will be discussed in class. Students will be asked to (i) identify multisided market cases or regulatory initiatives that predate the formulation of the theory, and (ii) to assess whether the application of multisided market theory could have generated distinct outcomes.

This seminar will be held online using ZOOM. Registered participants will be provided with ZOOM dial-in details.


Location:
Outside EUI premises -

Affiliation:
Department of Law

Type:
Seminar

Contact:
Valentina Spiga - Send a mail

Similar events

 

Page last updated on 18 August 2017