The problem(s) of tech markets
There is a popular perception that competition law – and competition economics – has failed to keep up with technology markets. I don’t want to comment on whether I think that’s true but I do want to set out briefly what some of the problems might be. We’ve come a long way from a farmer tending his orchard and selling apples at the local market. In some ways that’s a shame because we have a pretty good idea of how to analyse any competition problems there. Though even there we can still argue about market definition, about degrees of concentration and about a myriad of other aspects of the competition rules. And this market is quite a simple one. Tech […]