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Market definition and multi-sided markets : a primer on the 2024 EU market definition notice
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1028-3625
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EUI; RSC; Working Paper; 2024/31; Centre for a Digital Society
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GALLI, Niccolò, PARCU, Pier Luigi, Market definition and multi-sided markets : a primer on the 2024 EU market definition notice, EUI, RSC, Working Paper, 2024/31, Centre for a Digital Society - https://hdl.handle.net/1814/77096
Abstract
This study examines the challenges of defining markets in the context of multi-sided markets within the framework of EU competition law. The primary focus is on determining the relevant product market in antitrust cases involving multi-sided platforms. To address this question, a normative-evaluative research approach is utilized, employing a doctrinal legal analysis informed by both legal and economic perspectives. The paper begins by outlining the structural characteristics of multi-sided markets and platforms, which significantly influence market definition and overall competitive assessments. It then critically evaluates the role and constraints of market definition in EU competition law, and reviews the general principles established by the Market Definition Notice (‘MDN’). Additionally, it provides insights into defining the relevant antitrust market, with a specific emphasis on the product dimension and, to a lesser extent, the geographic dimension. Furthermore, the article examines the challenges of product market definition in the context of multi-sided markets, by comparing the one-market and multi-markets approaches through analysis of prominent antitrust cases from the US and the EU, and the adaptable solution endorsed by the MDN. The conclusion summarizes the key findings.