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samenvattinge gastcolleges - Bedrijfseconomie
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GASTCOLLEGESBEDRIJFSECONOMIE
Ilias Gruwier
2023-2024
1
,INHOUDSOPGAVE
Gastcollege 1: Competition policy & digital intermediation platforms ............................................................. 4
Introduction......................................................................................................................................................... 4
Intermediation and platforms ............................................................................................................................. 5
Intermediation via resellers ............................................................................................................................ 5
Intermediation via platforms .......................................................................................................................... 5
Platforms......................................................................................................................................................... 6
Digital platforms with a focus on digital intermediation platforms .................................................................... 7
Digital platforms ............................................................................................................................................. 7
Digital intermediation platforms .................................................................................................................... 8
Helping assets move to higher uses ................................................................................................................ 8
Platform Competition........................................................................................................................................ 10
Platforms rely on reinforcing cycles.............................................................................................................. 10
Multi-homing incentive is often limited ....................................................................................................... 11
Scale is important to platform competition.................................................................................................. 12
Network effects: ........................................................................................................................................... 13
When digital prowess meets physical challenges ......................................................................................... 15
Impact on policy............................................................................................................................................ 15
Peeping into the crystal ball.......................................................................................................................... 17
Gastcollege 2: Potential competition in digital platforms and markets .......................................................... 18
Introduction....................................................................................................................................................... 18
Potential competition and digital platforms ................................................................................................. 19
We buy cars case ............................................................................................................................................... 19
background ................................................................................................................................................... 19
Case introduction .......................................................................................................................................... 20
The case ........................................................................................................................................................ 20
Decision on the merger................................................................................................................................. 21
Creation of portfolio effects ......................................................................................................................... 23
MIH/WeBuyCars removes FCG as entrant .................................................................................................... 24
Comparison to the EU experience ..................................................................................................................... 24
Link with the experience in EU ..................................................................................................................... 24
Horizontal theories are still the focus of most digital merger cases in EU ................................................... 25
Reflecting on the risks ....................................................................................................................................... 26
What were the authorities hoping for? ........................................................................................................ 26
Potential competition: the right focus for digital merger review? ............................................................... 26
Conclusions ....................................................................................................................................................... 28
Digital competition policy and broader antitrust.......................................................................................... 28
General take-aways ...................................................................................................................................... 29
2
,Gastcollege 3: ............................................................................................................................................... 30
Introduction....................................................................................................................................................... 30
background ................................................................................................................................................... 30
Exploitative abuse ......................................................................................................................................... 30
Trends in exploitative abuse policy and its digital application .......................................................................... 31
General trends .............................................................................................................................................. 31
Digital trends................................................................................................................................................. 32
Main challenges ............................................................................................................................................ 33
Further challenges ........................................................................................................................................ 34
Discriminatory terms and pricing concerns in digital platforms ....................................................................... 35
Bunddeskartellamt/facebook 2019 .............................................................................................................. 35
Past behavior is the preferred benchmark ................................................................................................... 37
Price discrimination: South-african digital examples .................................................................................... 38
Price discrimination: Evaluating harm .......................................................................................................... 38
Conclusion ......................................................................................................................................................... 39
3
, GASTCOLLEGE 1: COMPETITION POLICY & DIGITAL INTERMEDIATION PLATFORMS
INTRODUCTION
Meneer die Dekaan Prof Branson, Prof Buts
We will be delving into the economics and competition policy of digital commerce, considering multiple
jurisdictions, but often looking at South African examples.
South Africa: a different perspective -> Reflecting over the past few months on what insights a South
African can offer a European audience interested in digital platform issues, has led me to three
conclusions.
• One, that South African digital markets offer an alternative setting which shares many of the
characteristics of, and trends in, digital commerce in Europe and the US, but with different
players. This commonality challenges popular notions of ‘bad’ Big Tech and instead points to
universal economic principles at work in these markets.
• Second, that for all the discussion here in Europe about the centrality of the digital world for the
future of the continent, the stakes are even higher in South Africa and other developing
countries. How South African policymakers deal with broader developmental concerns in digital
policy is a harbinger of future approaches elsewhere or - at the least - a cautionary example of
what to do or to avoid.
• Third, that if competition is possible in South African digital markets, it is possible or can be
fostered elsewhere. As we will discuss, scale is typically a major challenge in countries with small
markets. If mature South African digital markets can support multiple players or otherwise
maintain dynamism, it offers hope that monopoly is not predetermined in the digital world.
So let us, slowly, move into the world of digital intermediation platforms, which are the focus of this
lecture series.
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