This paper, published in Theoretical Inquiries in Law, and available at eial.tau.ac.il/index.php/til/article/download/1425/1501, is only for the more academically minded and those who are interested in deep theory of regulation and competition law.  It focuses on the challenges that the information society poses to traditional modes of regulation, and provides food for thought and a potential starting point to try to think about challenges to competition law / economic regulation in a wider context.

This is despite the repeated use of academic jargon and expressions such as “neoliberal” to mean “unfortunate ideas/developments”. Thus, mariner beware: here be dragons.

The arguments made in this paper(which I do not necessarily share) include, among others: (i) that concepts used in classic regulatory schemes (such as market definition and market power for antitrust) were developed for different economic structures and are not very well suited to the information age, which is prone to oligopolistic/undefined markets and platforms markets/infrastructures that are interdependent, create strong path-dependencies and exert power through regulatory mechanisms; (ii) “[applying] antitrust and competition law in the information age […] requires a willingness to rethink major assumptions about the causes and effects of power in information markets”; that (iii) the inability of regulatory apparatuses to deal with recent economic developments underpins the increasing ubiquity of self-regulation and guidelines, best-practices and other types of vague and (more) easily amended rules.

Interesting and thought proviking.

 

Author Socials A weekly email with competition/antitrust updates. All opinions are mine

What do you think?

Note: Your email address will not be published