The Economics of Vertical Restraints in Digital Markets
The Economics of Vertical Restraints in Digital Markets

Author: Daniel P. O'Brien

Publisher:

Published: 2020

Total Pages: 0

ISBN-13:

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Vertical restraints are contractual arrangements between firms at different levels in a supply chain (e.g., manufacturer and retailer, manufacturer and distributor, distributor and retailer) that are more complex than simple per-unit pricing arrangements. The purpose of this chapter is to provide an overview of the economics of vertical restraints and thereby provide an economic foundation for the antitrust analysis of vertical restraints.The literature on vertical restraints is large. This chapter touches on many of the relevant concepts at a high level, references past work for certain ideas, and focuses in depth on four main issues: (i) the general nature of double marginalization and the benefits of vertical restraints that eliminate it in both single- and multi-product settings; (ii) the welfare effects of vertical restraints that address service externalities; (iii) the implications of bilateral contracting and bargaining for the effects of vertical restraints; and (iv) the effects of anti-steering provisions, a vertical restraint that does not appear explicitly in most textbooks but has been prominent in antitrust cases in the digital age.

Vertical Restraints in the Digital Economy
Vertical Restraints in the Digital Economy

Author: Adina Claici

Publisher: Kluwer Law International B.V.

Published: 2021-05-21

Total Pages: 156

ISBN-13: 9403532440

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Vertical agreements between undertakings at the various levels of a supply chain have long been seen as a fundamental focus for antitrust legislation, such as the European Union’s Vertical Block Exemption Regulation (VBER). It goes without saying that such issues are particularly prevalent in digital markets. This authoritative commentary analyses the main restrictions in vertical agreements, emphasising the numerous new and contentious issues arising in the context of Internet distribution. It offers both legal and economic perspectives, as well as examines enforcement and possible changes to the legislation. The contributors – leading competition authority officials, lawyers, economists, and academics – provide in-depth discussions of topics that have emerged as areas for conscious policy choices, including the following: restrictions of online sales; price parity obligations; resale price maintenance; the duration of non-compete obligations; sustainability agreements; geo-blocking practices; and restraint of trade in pharmaceuticals. The contributions have emerged from the 2020 conference of the Global Competition Law Centre at the College of Europe in the context of the currently ongoing review of the VBER and vertical guidelines. With its multidisciplinary approach highlighting the efficiencies and harms caused by the restrictions at stake, this important book clearly shows how law and practice apply to specific issues relating to digital markets and how the law is likely to change in the near future. It will be of immeasurable value to lawyers and officials concerned with European competition law and academics in the field.

Regulating Vertical Agreements
Regulating Vertical Agreements

Author: Maria Fernanda Caporale Madi

Publisher: Kluwer Law International B.V.

Published: 2020-10-09

Total Pages: 224

ISBN-13: 9403526513

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Vertical agreements represent a variety of supply and distribution contracts involving different market players, such as suppliers of diverse inputs, manufacturers, distributors and retailers. They gain particular significance in a global economy where technological advances are dynamic and are changing all the time. Such agreements are signed among businesspeople on a daily basis, and antitrust experts around the world are often asked to advise on whether they have any negative impact on competition or whether they infringe antitrust law. Taking into consideration the complex economic impacts of these vertical alliances, and the different market conditions that firms face in a wide variety of situations, the author proposes an in-depth examination of the following topics: resale price-fixing; geo-blocking clauses; exclusive and selective distribution systems; the concept of ‘economic efficiency’ in the context of vertical restraints; self-assessment of potential anticompetitive effects and antitrust risks; ex post control of vertical restraints; digital economies and its policy impact; alternative enforcement models under various institutional frameworks; the role and influence of political pressure groups. The book offers very constructive theoretical and political insights at the frontier between the disciplines of Economics and Law. By comparing two world’s leading antitrust jurisdictions, this book explores the lessons to be learned from the legal rules in the European Union and in Brazil, considering their promises and drawbacks, and formulates policy recommendations.

Vertical Integration and Regulation
Vertical Integration and Regulation

Author: Christoph Kleineberg

Publisher: Springer

Published: 2019-01-17

Total Pages: 62

ISBN-13: 3030113582

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This book investigates under which circumstances vertical unbundling can lead to a more efficient market result. The assessment is based on an interdisciplinary approach combining law and economics. Drawing on the assessment, circumstances are subsequently presented under which unbundling might become necessary. Additionally, less severe means of regulatory intervention are suggested in order to protect competition. Given its scope, the book is chiefly intended for scholars and practitioners in the field of economic policy and regulation law; in addition, it will give interested members of the public a unique opportunity to learn about the underlying rationales of regulation law and regulation economics.

The Antitrust Paradox
The Antitrust Paradox

Author: Robert Bork

Publisher:

Published: 2021-02-22

Total Pages: 536

ISBN-13: 9781736089712

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The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.

Economics of Vertical Restraints for Multi-sided Platforms
Economics of Vertical Restraints for Multi-sided Platforms

Author: David Sparks Evans

Publisher:

Published: 2013

Total Pages: 25

ISBN-13:

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This paper presents an overview of what economists can say about vertical constraints by multi-sided platforms at this stage in the development of our knowledge about the economics of these businesses. It describes the general procompetitive and anticompetitive uses of vertical restraints by multi-sided platforms. It then focuses on the role of critical mass for multi-sided platforms and how vertical restraints might be used on the one hand, anti-competitively to prevent rivals from achieving critical mass and long-term growth and, on the other hand, pro-competitively, to ensure the platform and its customers that the platform will remain viable.

Handbook of Antitrust Economics
Handbook of Antitrust Economics

Author: Paolo Buccirossi

Publisher:

Published: 2008-03-21

Total Pages: 716

ISBN-13:

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Experts examine the application of economic theory to antitrust issues in both the United States and Europe, discussing mergers, agreements, abuses of dominance, and the impact of market features. Over the past twenty years, economic theory has begun to play a central role in antitrust matters. In earlier days, the application of antitrust rules was viewed almost entirely in formal terms; now it is widely accepted that the proper interpretation of these rules requires an understanding of how markets work and how firms can alter their efficient functioning. The Handbook of Antitrust Economics offers scholars, students, administrators, courts, companies, and lawyers the economist's view of the subject, describing the application of newly developed theoretical models and improved empirical methods to antitrust and competition law in both the United States and the European Union. (The book uses the U.S. term “antitrust law” and the European “competition law” interchangeably, emphasizing the commonalities between the two jurisdictions.) After a general discussion of the use of empirical methods in antitrust cases, the Handbook covers mergers, agreements, abuses of dominance (or unilateral conducts), and market features that affect the way firms compete. Chapters examine such topics as analyzing the competitive effects of both horizontal and vertical mergers, detecting and preventing cartels, theoretical and empirical analysis of vertical restraints, state aids, the relationship of competition law to the defense of intellectual property, and the application of antitrust law to “bidding markets,” network industries, and two-sided markets. Contributors Mark Armstrong, Jonathan B. Baker, Timothy F. Bresnahan, Paulo Buccirossi, Nicholas Economides, Hans W. Friederiszick, Luke M. Froeb, Richard J. Gilbert, Joseph E. Harrington, Jr., Paul Klemperer, Kai-Uwe Kuhn, Francine Lafontaine, Damien J. Neven, Patrick Rey, Michael H. Riordan, Jean-Charles Rochet, Lars-Hendrick Röller, Margaret Slade, Giancarlo Spagnolo, Jean Tirole, Thibaud Vergé, Vincent Verouden, John Vickers, Gregory J. Werden

Price Parity Clauses on Internet Platform Markets
Price Parity Clauses on Internet Platform Markets

Author: Holger Löhr

Publisher: GRIN Verlag

Published: 2016-07-12

Total Pages: 78

ISBN-13: 3668257450

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Master's Thesis from the year 2014 in the subject Economics - Other, grade: 1,7, University of Marburg (Wirtschaftspolitik), course: Masterarbeit, language: English, abstract: Recent years have witnessed a remarkable increase in internet platform markets which have become the preferred venue of interaction amongst a growing number of buyers and sellers. The ability of the internet to enable sellers reach a greater number of consumers shows that there is a high potential for growth of the internet market, with effects on competition. Following a 2013 report by the German Antitrust Authority “Bundeskartellamt” on “Vertical Restraints on the Internet Economy”, it is clear that the internet significantly reduces transaction costs and thus increases competition to the benefit of consumers. The increase in competition among sellers, producers and retailers has led to an adoption of different forms of vertical restrictions on internet platforms which have come under the scrutiny of antitrust authorities. This thesis aims to analyze vertical restraints on internet platform markets based on the investigation of Amazon.com, Inc. by the “Bundeskartellamt” for its use of a price parity clause. This clause was introduced in Germany and in the United Kingdom in 2010 in the contract between Amazon and sellers using its platform and prohibited them from setting lower prices on other platforms, including their own websites, than the prices they set on Amazon.

The Economics of Platforms
The Economics of Platforms

Author: Paul Belleflamme

Publisher: Cambridge University Press

Published: 2021-11-11

Total Pages: 275

ISBN-13: 1108625622

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Digital platforms controlled by Alibaba, Alphabet, Amazon, Facebook, Netflix, Tencent and Uber have transformed not only the ways we do business, but also the very nature of people's everyday lives. It is of vital importance that we understand the economic principles governing how these platforms operate. This book explains the driving forces behind any platform business with a focus on network effects. The authors use short case studies and real-world applications to explain key concepts such as how platforms manage network effects and which price and non-price strategies they choose. This self-contained text is the first to offer a systematic and formalized account of what platforms are and how they operate, concisely incorporating path-breaking insights in economics over the last twenty years.

E-commerce Competition Enforcement Guide
E-commerce Competition Enforcement Guide

Author: Claire Jeffs

Publisher:

Published: 2019

Total Pages: 248

ISBN-13: 9781838622152

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The growth in the digital economy both powerfully drives competition, but also provides challenges to global antitrust enforcement. This E-commerce Competition Enforcement Guide, edited by Claire Jeffs, looks at whether established competition tools are sufficient to deal with the challenges of the online world. Drawing on the collective wisdom and expertise of 48 distinguished experts from 22 firms and competition authorities, the Guide provides insight on the differing approaches adopted by enforcement agencies and whether a balance is being struck between maintaining a vigilant approach to the digital economy and allowing competition to flourish.--From publisher's website.