Verticalrestraintsandexclusivity纵向约束与垄断

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1、CompetitionPolicyinTwo-SidedMarkets-SomebriefremarksDrAmeliaFletcherChiefEconomistOfficeofFairTradingLEARConference7thJune2007NBTheviewsexpressedherearemyown,andnotnecessarilythoseoftheOFTWhatdocertainkeyfactorsof2-sidedmarketsmeanfor:Marketdefinition?Predation?Collusion?Exclusivecontrac

2、ts?Mediaregulationandmergers?2-sidedmarkets:FirstkeyfactorInatypical2-sidedmarket:DAisfunctionnotonlyofpAbutalsoofqBDBisfunctionnotonlyofpBbutalsoofqAWhatdoesthismeanformarketdefinition?MarketdefinitionSSNIPtest:Couldahypotheticalmonopolistprofitablysustainasmallbutsignificantandnon-trans

3、itoryincreaseinprice?Ifno,therelevantantitrustmarketmustbewiderIfyes,themarketisnotanywider(butcouldbenarrower)Keyquestionfor2-sidedmarkets:Whichfeedbackloopsshouldbetakenintoaccount?Marketdefinition:FeedbackloopspA↑qA↓πA↑πA↓πA↑NormalMarket:DoestotalπA↑?Ifyes,marketnowider?Marketdefinitio

4、n:FeedbackloopspA↑qA↓DB↓qB↓πA↑πA↓πB↓ForgivenpBπA↑NormalMarket:DoestotalπA↑?Ifyes,marketnowiderFeedbacktomarketBMarketdefinition:FeedbackloopspA↑qA↓DB↓qB↓πA↑πA↓πB↓ForgivenpBπA↑NormalMarket:DoestotalπA↑?Ifyes,marketnowiderFeedbacktomarketBShouldwetakethisintoaccount?Marketdefinition:Feedba

5、ckloopspA↑qA↓DB↓qB↓DA↓qA↓πA↑πA↓πB↓πA↓ForgivenpBForgivenpAπA↑NormalMarket:DoestotalπA↑?Ifyes,marketnowiderFeedbacktomarketAFeedbacktomarketBMarketdefinition:FeedbackloopspA↑qA↓DB↓qB↓DA↓qA↓πA↑πA↓πB↓πA↓ForgivenpBForgivenpAπA↑NormalMarket:DoestotalπA↑?Ifyes,marketnowiderFeedbacktomarketAFeedb

6、acktomarketBShouldwetakethisintoaccount?Marketdefinition:FeedbackloopspA↑qA↓DB↓qB↓DA↓qA↓πA↑πA↓πB↓πA↓ForgivenpBForgivenpAπA↑NormalMarket:DoestotalπA↑?Ifyes,marketnowiderpB↓qB↑πB↓ProfitsdissipatedinmarketBFeedbacktomarketAFeedbacktomarketBShouldwetakethisintoaccount?Marketdefinition:Feedb

7、ackloopspA↑qA↓DB↓qB↓DA↓qA↓πA↑πA↓πB↓πA↓ForgivenpBForgivenpAπA↑NormalMarket:DoestotalπA↑?Ifyes,marketnowiderpB↓qB↑πB↓DA↑qA↑πA↑ProfitsdissipatedinmarketBFeedbacktomarketAFeedbacktomarketAFeedbacktomarketBMarketdefinition:FeedbackloopspA↑qA↓DB↓qB↓DA↓qA↓πA↑πA↓πB↓πA↓Forgi