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The Economics of Platforms: A Theory Guide for Competition Policy

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  • Jullien, Bruno
  • Sand-Zantman, Wilfried

Abstract

We propose an analysis of platform competition based on the academic literature with a view towards competition policy. First, we discuss to which extent competition can emerge in digital markets and show which forms it can take. In particular, we underline the role of dynamics, but also of platform differentiation, consumers multi-homing and beliefs to allow competition in platform markets. Second, we analyze competition policy issues and discuss how rules designed for standard markets can perform in two-sided markets. We show that multi-sided externalities create new opportunities for anti-competitive conducts, often related to pricing and contractual imperfections.

Suggested Citation

  • Jullien, Bruno & Sand-Zantman, Wilfried, 2021. "The Economics of Platforms: A Theory Guide for Competition Policy," Information Economics and Policy, Elsevier, vol. 54(C).
  • Handle: RePEc:eee:iepoli:v:54:y:2021:i:c:s0167624520301244
    DOI: 10.1016/j.infoecopol.2020.100880
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    Cited by:

    1. Katz, Michael L., 2021. "Big Tech mergers: Innovation, competition for the market, and the acquisition of emerging competitors," Information Economics and Policy, Elsevier, vol. 54(C).
    2. Jullien, Bruno & Pavan, Alessandro & Rysman, Marc, 2021. "Two-sided Markets, Pricing, and Network Effects," CEPR Discussion Papers 16480, C.E.P.R. Discussion Papers.
    3. Quitz'e Valenzuela-Stookey, 2020. "Platform-Mediated Competition," Papers 2011.03879, arXiv.org.
    4. Gang Liu & Fengyue An, 2021. "Video Platforms’ Value-Added Service Investments and Pricing Strategies for Advertisers," Sustainability, MDPI, vol. 13(24), pages 1-24, December.
    5. Graef, Inge & Prüfer, Jens, 2021. "Governance of data sharing: A law & economics proposal," Research Policy, Elsevier, vol. 50(9).
    6. Zhijun Chen & pch346 & Chongwoo Choe & Jiajia Cong & Noriaki Matsushima, 2020. "Data-Driven Mergers and Personalization," Monash Economics Working Papers 16-20, Monash University, Department of Economics.
    7. Zhijun Chen & pch346 & Chongwoo Choe & Jiajia Cong & Noriaki Matsushima, 2020. "Data-Driven Mergers and Personalization," Monash Economics Working Papers 16-20, Monash University, Department of Economics.
    8. Alessandro De Chiara & Ester Manna & Antoni Rubí-Puig & Adrian Segura-Moreiras, 2021. "Efficient copyright filters for online hosting platforms," Working Papers 21-03, NET Institute.
    9. Grazia Cecere & Thierry Pénard, 2020. "Introduction to the Special Issue: “From The digital economy to the digitalization of the economy”," Revue d'économie industrielle, De Boeck Université, vol. 0(4), pages 11-17.
    10. Graef, Inge & Prüfer, Jens, 2021. "Governance of data sharing: A law & economics proposal," Research Policy, Elsevier, vol. 50(9).

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    More about this item

    Keywords

    Networks; Platforms; Markets; Competition policy;
    All these keywords.

    JEL classification:

    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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