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Abstract(s)
Digital platforms have been revolutionizing markets, creating new business models. These markets often have particular features that can take the form of negative externalities, such as strong network-effects, a tipping phenomenon and single-homing. A number of digital market players have gained and maintained dominant positions for decades now, while competitors and new entrants complain about the inexistence of a level playing-field in respect to market access and conditions. EU competition law has been called up to ensure fair market access while at the same time not hindering innovation. There is a widely shared perception that competition law, remedies and enforcement are slow and inadequate to deal with the new reality. In fact, numerous of traditional competition tools and remedies need to be adjusted to respond to the present and future needs. Nevertheless, measures have been taken before and the EU is now orchestrating a regulatory reform. The aim is to make Europe fit for the digital age. The Digital Markets Act, the Digital Services Act, the Data Governance Act, the Data Act and the AI Act proposal have faced some criticism, but are exciting pieces of legislation that will certainly change the reality and functioning of digital markets and platforms.
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Keywords
Digital platforms Multi-sided markets Market power Abuse of dominant position Data Remedies Regulation Digital markets act