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<DIV>Just a bit more on this reading on -</DIV>
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<DIV>Wikipedia provides a good article and other examples of two-sided markets
here</DIV>
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<DIV><A title=https://en.wikipedia.org/wiki/Two-sided_market
href="https://en.wikipedia.org/wiki/Two-sided_market">https://en.wikipedia.org/wiki/Two-sided_market</A></DIV>
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<DIV>which helps to clarify the issues.</DIV>
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<DIV>Another quote</DIV>
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<DIV><FONT face=""><FONT color=#4c4e4d><FONT size=+0><SPAN
style="FONT-FAMILY: ; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FLOAT: none; COLOR: ; DISPLAY: inline !important; LETTER-SPACING: normal; LINE-HEIGHT: 22px; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"><FONT
style="FONT-SIZE: 11.3pt">One takeaway from Tirole's work on regulation in
general is that to a greater extent than people appreciate, policy problems
sometimes exist because<SPAN
class=Apple-converted-space> </SPAN></FONT></SPAN><FONT
style="FONT-SIZE: 11.3pt"><I
style="BOX-SIZING: border-box; FONT-FAMILY: ; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: ; LETTER-SPACING: normal; LINE-HEIGHT: 22px; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">the
questions are genuinely difficult</I></FONT><SPAN
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style="FONT-SIZE: 11.3pt"><SPAN class=Apple-converted-space> </SPAN>rather
than because policymakers are corrupt or
feckless.</FONT></SPAN></FONT></FONT></FONT></DIV>
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<DIV><FONT size=3 face=Calibri>And it seems that one reason why the questions
are genuinely difficult is that regulatory regimes were written in an era where
such problems did not really exist. We don’t have laws which are
applicable. And often we don’t have legislators who understand the nature of the
problems. (and, sure, we don’t have the will to introduce new laws or amend them
either).</FONT></DIV>
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<DIV><FONT size=3 face=Calibri>Ian</FONT></DIV>
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<DIV style="font-color: black"><B>From:</B> <A title=ian.peter@ianpeter.com
href="mailto:ian.peter@ianpeter.com">Ian Peter</A> </DIV>
<DIV><B>Sent:</B> Thursday, October 16, 2014 7:01 AM</DIV>
<DIV><B>To:</B> <A title=governance@lists.igcaucus.org
href="mailto:governance@lists.igcaucus.org">governance@lists.igcaucus.org</A> ;
<A title=bestbits@lists.bestbits.net
href="mailto:bestbits@lists.bestbits.net">bestbits@lists.bestbits.net</A> </DIV>
<DIV><B>Subject:</B> [governance] Platform competition</DIV></DIV></DIV>
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<DIV>This is a highly interesting article about the work of Nobel Prize winning
economist Jean Tirole and how the concept of platform competition relates to
internet markets. It explains how Google and Facebook can make enormous profits
and dominate markets while offering their products free of charge. Similar
issues exist in some other industries, but this article concentrates on
Internet.</DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV><A
title=http://www.vox.com/2014/10/13/6968423/jean-tirole-platform-competition
href="http://www.vox.com/2014/10/13/6968423/jean-tirole-platform-competition">http://www.vox.com/2014/10/13/6968423/jean-tirole-platform-competition</A></DIV>
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<DIV><FONT face=""><FONT color=#4c4e4d><FONT
style="BACKGROUND-COLOR: #f1f3f2"><SPAN
style="FONT-FAMILY: ; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FLOAT: none; COLOR: ; DISPLAY: inline !important; LETTER-SPACING: normal; LINE-HEIGHT: 22px; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"><FONT
style="FONT-SIZE: 11.3pt">To quote “And an important question for the world
going forward is to how to think about regulating that kind of market. Since
Google doesn't charge its mass customer base<SPAN
class=Apple-converted-space> </SPAN></FONT></SPAN><FONT
style="FONT-SIZE: 11.3pt"><I
style="BOX-SIZING: border-box; FONT-FAMILY: ; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: ; LETTER-SPACING: normal; LINE-HEIGHT: 22px; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px">anything
at all</I></FONT><SPAN
style="FONT-FAMILY: ; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FLOAT: none; COLOR: ; DISPLAY: inline !important; LETTER-SPACING: normal; LINE-HEIGHT: 22px; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"><FONT
style="FONT-SIZE: 11.3pt">, you're never going to find evidence of monopoly
power in price hikes.”</FONT></SPAN></FONT></FONT></FONT></DIV>
<DIV><SPAN
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face=Helvetica><FONT color=#141823><SPAN
class=Apple-converted-space></SPAN></FONT></FONT></SPAN> </DIV>
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face=Helvetica><FONT color=#141823><SPAN
class=Apple-converted-space></SPAN></FONT></FONT></SPAN> </DIV>
<DIV><SPAN
style="FONT-FAMILY: ; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FLOAT: none; COLOR: ; TEXT-ALIGN: left; DISPLAY: inline !important; LETTER-SPACING: normal; LINE-HEIGHT: 19px; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"><FONT
face=Helvetica><FONT color=#141823><FONT style="FONT-SIZE: 10.5pt">As Mark
Rotenberg comments, “The key insight is not no regulation but different
regulation. This is also why competition law and privacy law need to be updated
not ignored.”</FONT></FONT></FONT></SPAN></DIV>
<DIV><SPAN
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color=#141823 face=Helvetica></FONT></SPAN> </DIV>
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color=#141823 face=Helvetica></FONT></SPAN> </DIV></DIV></DIV>
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