Monday, December 9, 2019
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Platform businesses that facilitate connections between different stakeholders play an increasingly prominent role in the economy. Several of the largest firms in the world operate platforms. In 2018, the U.S. Supreme Court issued a seminal decision, Ohio et. al. v. American Express, on the analysis of antitrust issues involving these sorts of businesses. In Antitrust Analysis of Platform Markets: Why the Supreme Court Got It Right in American Express, David S. Evans and Richard Schmalensee explain the economic basis for the Court’s analysis. The Court found that antitrust analysis of two-sided platforms that enable transactions between distinct groups, such as cardholders and merchants, must account for both groups in market definition and the analysis of anticompetitive effects The authors describe the problems with alternative approaches that were presented to the Court and consider the key criticisms levied against the Court’s analysis. The book is based on a series of articles the authors wrote leading up to and following the decision including the amicus brief they submitted to the Court. Given the growing importance platforms in the economy, antitrust will deal with more cases governed by the American Express decision in the U.S., as well as judgments of other courts on similar issues around the world. Many questions about the sound antitrust analysis of platform businesses remain unanswered. This book makes a timely contribution to the ongoing debate about how to apply antitrust to platforms and the digital economy in which they play a significant role.
The book constitutes a useful tool to not only interpret, but to potentially predict, the current and forthcoming application and direction of competition law in media markets in the United States, the European Union, and other jurisdictions worldwide.
Table of Contents
Where's The Harm?
The Rule of Reason
Under and Over Enforcement
Two-Sided Red Herrings
All That Jazz
Supreme Court Decision
Brief for the United States as Respondent Supporting Petitioners
Brief of 28 Professors of Antitrust Law as Amici Curiae Supporting Petitioners
Brief for Amici Curiae John M. Connor, Martin Gaynor, Daniel McFadden, Roger Noll, Jefferey M. Perloff, Joseph A. Stiglitz, Lawrence J. White, and Ralph A. Winter in Support of Petitioners