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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 toward 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 multihoming 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, 2020. "The Economics of Platforms: A Theory Guide for Competition Policy," CEPR Discussion Papers 15071, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:15071
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    6. Quitz'e Valenzuela-Stookey, 2020. "Platform-Mediated Competition," Papers 2011.03879, arXiv.org.
    7. Piolatto, A. & Schuett, Florian, 2022. "Information vs Competition : How Platform Design Affects Profits and Surplus," Other publications TiSEM 43e43ee1-c784-4b60-9d62-e, Tilburg University, School of Economics and Management.
    8. Bruno Jullien & Wilfried Sand-Zantman, 2020. "Vers une régulation concurrentielle des plateformes," Working Papers hal-03629443, HAL.
    9. Zhijun Chen & Chongwoo Choe & Jiajia Cong & Noriaki Matsushima, 2022. "Data‐driven mergers and personalization," RAND Journal of Economics, RAND Corporation, vol. 53(1), pages 3-31, March.
    10. 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.
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    12. Zhuoning Zhang & Zhongsheng Hua, 2023. "Performance investment decision and pricing strategy for platforms considering two‐sided users' different preferences," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(4), pages 2457-2480, June.
    13. 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.
    14. Theodore Pelagidis & Eleftheria Kostika, 2022. "Investigating the role of central banks in the interconnection between financial markets and cryptoassets," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 49(3), pages 481-507, September.
    15. Martin Peitz, 2023. "Governance and Regulation of Platforms," CRC TR 224 Discussion Paper Series crctr224_2023_480, University of Bonn and University of Mannheim, Germany.
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    17. Naudé, Wim, 2023. "Destructive Digital Entrepreneurship," IZA Discussion Papers 16483, Institute of Labor Economics (IZA).
    18. 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.
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    More about this item

    Keywords

    Networks; Platforms; Two-sided 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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