| Foreword |
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v | |
| Acknowledgements |
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vii | |
| Abbreviations |
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xv | |
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xvii | |
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Table of Treaties, Legislation and other Legislative Instruments |
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xxiii | |
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1 | (14) |
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1 | (1) |
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1 | (5) |
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III Role of Economic Analysis in Competition Law and its Limitations |
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6 | (4) |
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IV EU Competition Policy and the Nature and Scope of the Analysis |
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10 | (3) |
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V Analytical Framework and Outline |
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13 | (2) |
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15 | (17) |
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15 | (1) |
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II Electronic Communications Network and Services |
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16 | (6) |
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16 | (4) |
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B Telecommunications Networks and Services |
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20 | (1) |
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C Cable and Broadcasting Networks and Services |
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20 | (1) |
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D Internet, Internet Access and Internet Related Services |
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21 | (1) |
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22 | (1) |
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23 | (2) |
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V Electronic Financial Sector Platforms |
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25 | (7) |
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A Card-based Payment Systems |
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25 | (1) |
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25 | (1) |
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26 | (1) |
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(iii) Issuing of Payment Cards |
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27 | (1) |
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(iv) Acquiring of Card-holders and Merchants |
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28 | (1) |
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29 | (1) |
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B Electronic Financial Exchanges with Clearing and Settlement |
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29 | (1) |
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(i) Electronic Financial Exchanges |
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29 | (1) |
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(ii) Clearing and Settlement |
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30 | (2) |
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3 The Economics of Competition Policy |
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32 | (21) |
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I Major Economic Theories of Competition and their Evolution |
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32 | (6) |
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A Classical Era of Antitrust |
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32 | (1) |
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B Structural Era and the Harvard School |
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33 | (1) |
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C Efficiency Era and the Chicago School |
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34 | (2) |
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D The Post-Chicago Developments and the Era of Synthesis |
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36 | (2) |
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II Basic Economic Framework of Competition Policy |
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38 | (15) |
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38 | (2) |
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B Economic Efficiency and Market Power |
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40 | (3) |
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43 | (1) |
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(i) Allocative versus Productive Efficiencies |
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43 | (2) |
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(ii) Static versus Dynamic Efficiencies |
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45 | (2) |
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47 | (1) |
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(i) Consumer Welfare Standard |
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47 | (2) |
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(ii) Total Welfare Standard |
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49 | (1) |
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(iii) Alternative Welfare Standards |
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49 | (1) |
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(iv) Existence of Optimal Welfare Standard? |
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50 | (3) |
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4 The Economics of the ICT Network Industries |
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53 | (46) |
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53 | (1) |
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II Fundamental Characteristics of Networks |
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53 | (4) |
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III The Economics of Innovation |
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57 | (10) |
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57 | (2) |
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B Economic Theories of Innovation |
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59 | (3) |
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C Public Policies and Incentives to Innovate |
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62 | (2) |
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D Innovation in Network Systems |
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64 | (3) |
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IV Major Theories of Economic Harm: Vertical Foreclosure and Raising Rivals' Costs |
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67 | (4) |
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A Economic Theories of Vertical Foreclosure |
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68 | (2) |
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B Raising Rivals Costs as Alternative Method of Foreclosure |
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70 | (1) |
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V (Dynamic) Nature of Competition in the ICT Industries: Interplay of Networks, Innovation and Competition |
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71 | (28) |
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A Competition in Dynamic Markets: the Relations between Market Structure and Innovation |
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71 | (1) |
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71 | (1) |
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(ii) Austrian School's Approach and Related Dynamic Theories |
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71 | (3) |
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(iii) Limits of the Austrian School's Approach |
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74 | (1) |
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(a) Intensive Innovation: Competition or Monopoly Driven? |
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74 | (2) |
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(b) Links between Market Concentration or Company Size and Innovation: Empirical Studies |
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76 | (2) |
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(c) Influence of Fundamental Technology Characteristics on Market Structure and Innovation Activity |
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78 | (1) |
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(d) Innovation and Market Structure: Importance of Competitive Process |
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79 | (1) |
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B Special Economic Characteristics and Sources of Market Power in the ICT Industries |
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80 | (1) |
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81 | (1) |
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(ii) Network Effects and Tipping |
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82 | (1) |
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(a) Types of Network Effects |
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82 | (1) |
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(b) Network Effects and Network Size |
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83 | (2) |
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(c) Sub-optimal Networks: Network Competition, First-mover Advantage and Tipping |
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85 | (1) |
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(iii) Switching Costs and Lock-ins |
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86 | (1) |
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(iv) Compatibility and Standards |
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87 | (2) |
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(v) High Fixed/Sunk Costs and Low Marginal Costs |
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89 | (2) |
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91 | (1) |
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(a) Economic Background of Two-sided Platforms |
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91 | (2) |
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93 | (1) |
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(c) Industrial Organisation of Two-sided Markets |
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94 | (2) |
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C Competition in the Market versus Competition for the Market: Applicability of Schumpeterian Competition to Characteristics of Competition in the ICT Industries |
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96 | (3) |
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5 Analytical Framework, Market Definition and the Assessment of Market Power |
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99 | (40) |
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99 | (1) |
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II General Observations on EU Legal Framework and Competition Policy |
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100 | (3) |
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A Choice of the Welfare Standard Under EU Competition Policy |
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102 | (1) |
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III Appropriate Framework for Competition Analysis in the ICT Industries |
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103 | (12) |
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A Adequacy of Traditional (Static) Approach to Competition Analysis |
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103 | (2) |
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B Effects- versus Form-based Approach: the `First Principles' Approach to Competition Analysis |
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105 | (1) |
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C Effects-based Approach: Per Se Rule versus the Rule of Reason |
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106 | (1) |
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D Preliminary Screening for Possible Anti-competitive Effects |
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107 | (1) |
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E Competitive Harm and Consumer Welfare |
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108 | (2) |
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F General Framework for Competition Assessment: Analysis of Existing EU Competition Policy |
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110 | (5) |
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115 | (13) |
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115 | (1) |
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B Market Definition in the Context of ICT Industries |
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115 | (2) |
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C Some Specific Issues with the Role of Market Definition in the ICT Industries |
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117 | (1) |
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(i) The SSNIP Test and ICT Industries |
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117 | (1) |
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(ii) Concept of Innovation Markets |
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118 | (3) |
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(iii) After-markets and ICT Industries |
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121 | (1) |
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(iv) Market Definition: Analysis of Existing EU Competition Policy |
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122 | (6) |
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128 | (11) |
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A Market Power: Pricing Power and Exclusionary Power |
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128 | (1) |
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B Market Power in the Context of ICT Industries |
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129 | (1) |
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C Some Specific Issues with Existence of Market Power in the ICT Industries |
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130 | (1) |
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(i) Market Share and Level of Concentration |
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130 | (1) |
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(ii) Barriers to Expansion or Entry |
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131 | (2) |
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D Market Power: Analysis of Existing EU Competition Policy |
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133 | (6) |
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6 Unilateral Exclusionary Conduct and ICT Network Industries |
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139 | (54) |
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I General Comments on Unilateral Exclusionary Conduct and Abuse of Market Power |
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139 | (3) |
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II Unilateral Exclusionary Conduct: Analysis of Existing EU Competition Policy |
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142 | (4) |
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146 | (13) |
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146 | (1) |
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B Predation and ICT Industries |
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147 | (1) |
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(i) Legal Standard(s) for Predation in ICT Industries |
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147 | (2) |
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(ii) Detection of Predation: Winner-Takes-(Almost)-All Markets versus Network Effects and Strategic Entry Deterrence |
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149 | (2) |
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C Predation: Analysis of Existing EU Competition Policy |
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151 | (8) |
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159 | (11) |
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159 | (2) |
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B Tying and Bundling and ICT Industries |
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161 | (1) |
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C Tying and Bundling: Analysis of Existing EU Competition Policy |
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162 | (8) |
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170 | (6) |
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170 | (1) |
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B Exclusive Dealing and ICT Industries |
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171 | (2) |
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C Exclusive Dealing: Analysis of Existing EU Competition Policy |
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173 | (3) |
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176 | (17) |
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176 | (3) |
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B Refusal to Deal and ICT Industries |
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179 | (1) |
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(i) Duty to Deal: Equivalence of Physical Property and IPRs |
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179 | (1) |
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(ii) Unilateral Compatibility Decisions, Interconnection and Mandating Access |
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180 | (3) |
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C Refusal to Deal: Analysis of Existing EU Competition Policy |
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183 | (10) |
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7 Collective Behaviour and ICT Network Industries |
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193 | (24) |
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I General Comments on Horizontal Co-operation Among Direct Competitors |
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193 | (1) |
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II Co-operative Standard Setting |
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193 | (11) |
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193 | (1) |
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B Costs and Benefits of Compatibility and Standard Setting |
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194 | (2) |
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C Abuse of the Standard Setting Process |
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196 | (1) |
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D Co-operative Standard Setting and Competition Policy |
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197 | (1) |
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E Co-operative Standard Setting: Analysis of Existing EU Competition Policy |
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198 | (6) |
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III Accumulation of IPRs: Cross-Licensing and Technology Pools |
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204 | (6) |
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204 | (2) |
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B Accumulation of IPRs: Analysis of Existing EU Competition Policy |
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206 | (4) |
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IV Collaborative Arrangement: Research and Platform Joint Venture |
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210 | (7) |
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210 | (2) |
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B Collaborative Arrangements: Analysis of Existing EU Competition Policy |
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212 | (5) |
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8 Mergers and ICT Network Industries |
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217 | (20) |
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217 | (2) |
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219 | (9) |
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A Horizontal Mergers and Competition in the Market |
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219 | (2) |
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B Horizontal Mergers and Competition for the Market |
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221 | (1) |
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C Horizontal Mergers: Analysis of Existing EU Competition Policy |
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222 | (6) |
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III Non-Horizontal Mergers |
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228 | (9) |
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228 | (2) |
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B Non-Horizontal Mergers: Analysis of Existing EU Competition Policy |
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230 | (7) |
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9 Two-sided Platforms and Competitive Harm |
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237 | (7) |
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237 | (2) |
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II Two-sided Platforms: Analysis of Existing EU Competition Policy |
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239 | (5) |
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10 Conclusion and Outlook |
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244 | (5) |
| Bibliography |
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249 | (16) |
| Index |
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265 | |