On April 2nd, We Are Competition hosted Professor Ioannis Lianos (Chair of Global Competition Law and Public Policy at University College London Faculty of Laws) for a lecture, and Professor Frédéric Jenny (Chairman of the OECD Competition Committee) as the discussant on competition law for a complex economy.
The lecture explored the most significant changes brought about by the emergence of digitalisation from the perspective of competition law enforcement. These structural changes, some of which pre-date, to a certain extent, the beginning of the ‘digital revolution’, can be summarised as relating to three broader trends: futurity, personalisation and cybernetics. The speaker discussed the practical implications of these changes for competition law enforcement before making suggestions as to the direction of the development of competition law and policy in the era of ‘informational’ capitalism.
Key topics were tech platforms, agents’ changing role within platform-based ecosystems, prediction platforms and personalisation markets, winner-takes-most dynamics, vertical competition and value capture. Both panelists agreed in the end that the current competition law framework is not fit for the purpose.