Thoughtful antitrust, not make-believe antitrust. Prof
@EUI_EU
& co-founder DCI
@fordynamism
. Opinions mine only, not of any group or institution I belong to.
🚨Paper alert for
#antitrust
earthians!
'Situating Dynamic Competition: Beyond Chicago' (w/
@BowmanHeiden
and
@ProfSchrepel
The paper discusses dynamic competition's orbit in the competition galaxy 1/n
Very blunt message of
@Kasparov63
too (not verbatim) 👇🏻
1. EU must not build firewall but firepower
2. This is war, and the right approach is not to manage a despot
3. Putin cant care less abt 1 or 2y cost of econ sanction. They look at how much land they’ll grab tomorrow
I am delighted to announce the publication of my book "Big Tech & the Digital Economy: The Moligopoly Scenario". The book is available from today via the
@OUPAcademic
website. I hope you will enjoy the read.
Two years to produce this long paper titled "Understanding Market Power". The paper is for anyone interested in this increasingly important concept of US and EU law. I hope that you will like it. Paper at
Just published a new paper entitled "Are FANGs monopolies? A Theory of Competition Under Uncertainty"
Work in progress based on sections of forthcoming book on Tech Giants and Public Policy. Comments welcome.
Delighted to share the webpage of my forthcoming book "Big Tech & the Digital Economy: The Moligopoly Scenario" The book will be available in July 2020 in print and as an ebook.
The failed appointment of Fiona Scott Morton as Chief Competition Economist illustrates the dangerous politicization of everything.
It's a worrying trend, because it's not a triumph of democracy, just the contrary 1/n.
Professor Fiona Scott Morton has informed me of her decision to not take up the post as Chief Competition Economist. I accept this with regret and hope that she will continue to use her extraordinary skill-set to push for strong competition enforcement
Very glad to share my latest working paper w/ David Teece (UC Berkeley). Current title is "Big Tech, Big Data, and Competition Policy: Favoring Dynamic over Static Competition". Comments v welcome
Happy to share my latest paper entitled "The Proposed Digital Markets Act (DMA): a Legal and Policy Review". Upcoming in special
@JECLAP
issue. Comments welcome
Early this week, I had the opportunity to provide tips on legal research to our new
@eui_law
PhDs. Here are my slides, all based on personal experience 1/N
Yest, I was the happy winner of an
#AntitrustWritingAwards
for my paper "Are FAANGs Monopolies? A Theory of Competition under Uncertainty" This one has a v special taste. It is in the king category, and it is now Chap 3 of my
@OUP
book. Tx
@Concurrences
!
Go check "Innovating Big Tech Firms and the Digital Economy" w/ David Teece at: . New paper out at Industrial and Corporate Change
@OUPAcademic
. Builds on a previous draft, but now tighter, crisper, and more relevant 1/n
Do we understand market power? This paper argues there is substantial ambiguity surrounding the definition, proof, and prevention of market power.
Read more:
@CompetitionProf
#monopoly
David Teece (UC Berkeley) and I just published an opinion piece in the
@FT
It’s called “Europe should embrace digital change, not strangle it” and ends w/ vintage quote.
I was thrown a lot of mud at for predicting this in my book, including outrageously unethical behavior. Glad to see
@TheEconomist
shares the same view of oligopoly competition in Big Tech.
Just out! Very proud of this and thoroughly grateful to the
@abaantitrust
ALJ for the professional review and editing process. Paper improved markedly since I submitted.
In these times of
#COVID19
I can’t help but think how lucky we are to have
@amazon
for home delivery,
@netflix
for entertainment in confinement,
@Facebook
and
@WhatsApp
for gr8 connectivity tools. Add to this the many other digital providers who make our lives easier.
Two years of work went into this long paper titled "Understanding Market Power". The paper is for anyone who wants to learn abt an increasingly important area of US and EU law. I hope that you will like it. Paper at
Prof Michal Gal (Haifa) and I just posted online our latest paper "Radical Restorative Remedies for Digital Markets". We explore novel, untested and sometimes intrusive remedies, and see if they can recreate lost competition (if any) 1/n
Welcome to Dr Isaure d’Estaintot in our PhD family! Her work uses law and economics to show that antitrust can do a bit more legwork in labor markets. Isaure is my first PhD researcher to finish. I am very proud of her big achievement.
🎉 Warmest congratulations to 🎓Dr Isaure d'Estaintot! 🍾
She has just brilliantly defended her thesis "Antitrust policy and EU labour markets - Lessons from the US and comparative prospects"
Glad to share that our long paper on the
#DMA
with
@nmorenobelloso
will appear in the European Law Review.
Our paper gives a full and independent account of the DMA.
The paper can be downloaded at 1/N
Our complexity-minded antitrust landed🛬in the Journal of Evolutionary Economics.
2 years of high-flying talks w/
@ProfSchrepel
and 1st chapter of a longer trip. Latest version at
The antitrust case against Google hinged on a simple question that never got a good answer: if Google search is the best engine, why pay billions to Apple? 1/n
I once wrote a conclusion on digital markets which started w/ a
#GameofThrones
analogy. Congrats to AG Bobek for raising the standards of EU law quality and readability.
Des conclusions de l’avocat général Bobek qui commencent en citant
#GameofThrones
(« Ce qui est mort ne meurt jamais »), le droit souple confronté au droit européen, des recommandations données par l’Autorité bancaire européenne.. un délice pour les juristes !
New paper alert 📢: "Gatekeepers 🚪, landlords 👑, or superstars💫? An empirical study of rents in the digital economy"
W/
@BowmanHeiden
and Sotiris Georgousis 1/n
On behalf of nerdy community of competition academics: 1000K 🙏 to
@lewis_crofts
for the huge positive externalities generated w/ his live reporting on Google Shopping case
EU/Google hearing restarts: an hour of questions about the legal test (leveraging v Bronner) and then into market definition (is Amazon in the same market?) and then onto impact on web traffic. Strap in.
Thread attempting to explain in plain English what
@EUCourtPress
said in Google Shopping case👇
COURT: 'Hey Google, when I look at you I see a kind of public utility' 1/n
Jean Tirole Nobel Prize 2015 speech on information asymmetries
=> Regulators can know little at best
=> Inevitable risk of type I error w/ weakened firm incentives to invest in cost reductions
=> Risk of erroneous intervention under pressure of public opinion
Healthy reminder
My reading of Macron’s victory is this
➡️ 58% is a BIG number bc 👇🏻
1️⃣ Macron’s score internalises the political cost of 5 years in the job, and
2️⃣ And it represents a defeat for populism, in a country that is leaning towards the far right for abt 20y now
I started
@EuropeanUni
this week. I got a new email address. For first time in my life, I might finish working week with ZERO outstanding messages in mailbox.
#onceinlifetime
#relief
I got wind that the
@CMAgovUK
is heading towards a prohibition of
@Facebook
’s purchase of
@GIPHY
. Yes, you read well G-I-P-H-Y, the GIF search engine 1/n
Europe and its nation states keep being described in mainstream press outlets like The Economist as the old, inefficient world. Or as an agonising organisation going from one crisis to the other. The data says otherwise. Cc
@lugaricano
👉🇺🇲EEUU: la epidemia no se reduce.
👉🇪🇺Europa: casi eliminada.
Y sin embargo, se empeñan en hablar de la UE permanentemente en crisis, de instituciones anticuadas e ineficientes etc.
Reivindiquemos a Europa h/t
@CompetitionProf
My
@EUI_EU
colleagues are gr8. They just informed me that my 'Theory of antitrust limits' is the featured publication of our research page for over a week. Nice Xmas present. Probably the most important paper that I wrote in past 5y. More at
🚨Important job alert.
The
@eui_law
has published a vacancy for a Chair in Law. More info 👇.
🌍We encourage applications from scholars with a substantial and ongoing connection to Central and Eastern Europe or the Western Balkans.
I often tell researchers to diversify methods and ambitions. Living by the example, my output this year shows a bit of this👇. First a policy oriented paper on the
#DMA
published in specialist law journal
@JECLAP
1/n
Paper on innovation competition and merger policy now published in latest issue of
@abaantitrust
Antitrust Law Journal In gr8 company of
@DianeCoyle1859
@superwuster
& many others. Really enjoyable & much added value from submission/publication process
Thread. 2y ago I write a paper saying market def is broken in digital. Last week
@EU_Competition
announces a review of market def notice. Great. 3y ago, I say antitrust law shld pay attention to Chinese SOEs M&A sprees. This week,
@EU_Commission
says it's looking at it. Huge. 1/2
Glad to share my latest paper on the EU AI Act: Between Product Safety and Fundamental Rights:
The paper is joint work w/ EUI researcher
@MarcoAlmada
We're welcoming comments, and suggestions for publication
Super long and wonky thread on the DMA, and the distinction btw art 5 and 6 obligations. A legal perspective, based on remarks prepared for the Oxera conf yesterday. Thinking in progress 1/
Proud to announce our new educational programme on law, AI and public policy! For all law and policy experts with interest in cognitive techs. Kick-off on 15 Nov 2019. Brussels-based cc
@cpmarkou
@roald
@NathalieSmuha
@AnB_Law
Thread on
@facebook
court win in antitrust/privacy case in Germany. Lesson number one: there’s a court system and legal precedent. Discussions on antitrust agst
#BigTech
often forget that judicial precedent may limit agencies’ ability to push the envelope 1/
Building a metaverse will require gigantic asset integration and interfirm cooperation. Blocking mergers is counterexample of sensible antitrust policy
Another empirical blow to the killer acquisition/kill zone conjecture. In a recent paper Prado and Brauer show that big tech acquisitions tend to increase short term VC funding in the relevant industry segment.
150 persons queuing for overpriced cabs at Brussels airport. 2 cars available. Uber still non grata. A case study in regulatory capture, policy failure, and taxpayer backstabbing.
Tout est dit dans cette indispensable invitation a l’optimisme de Sureau. La liberté est une méthode, celle de la contradiction. Le progrès découle de sa pratique.
La ligne Sureau devrait être la ligne de tous les combats.
Elle va à l'essentiel, tout en étant simple, applicable.
Nous devons prioritairement rétablir (voir élargir) la sphère classique des libertés publiques et individuelles.
De là découlera le reste.
Join us this Monday for a webinar on my upcoming book and antitrust in digital industries with Adina Claici (GCLC) Guillaume Loriot (COMP), Bill Kovacic (GWU), and David Teece (Berkeley)
Warning - very contrarian thread. Here goes: what if we thought of
@Google
and
@Facebook
(and other digital platforms) as engines of intense non price competition in the Economy (and thus enablers of competitive markets)? 1/8
.
@LeConcurrential
and I submitted 4 proposals to
@EU_Competition
for modernizing market definition:
1. Consider competition from non-substitute products
2. Distinguish between tipped & untipped markets
3. Outsource market definition
4. Create a database
Happy to share my slides on Big Tech’s Novel Harms: Antitrust or Regulation. Gr8 event at College of Europe yesterday with
@LeConcurrential
@nidhalaigh
@PaulNemitz
and many others