Ebook: Competition Law’s Innovation Factor: The Relevant Market in Dynamic Contexts in the EU and the US

In recent years, market definition has come under attack as an analytical tool of competition law. Scholars have increasingly questioned its usefulness and feasibility. That criticism is thrown into sharp relief in dynamic, innovation-driven markets that do not correspond to the static markets on which the concept of the relevant market was modelled. This book explores that controversy from a comparative legal perspective, taking into account both EU competition law and US antitrust law. It examines the manifold ways in which courts and competition authorities in the EU and US have factored innovation-related considerations into market delineation, covering: innovative product markets, product differentiation, future markets, issues going beyond market definition proper – such as innovation competition, innovation markets and potential competition –, intellectual property rights, innovative aftermarkets and multi-sided platforms. The book finds that, going forward, the role of market definition in dynamic contexts needs to focus on its function of market characterisation rather than on the assessment of market power.
Volume 23 in the series Hart Studies in Competition Law