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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>
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<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
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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>
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face=Helvetica><FONT color=#141823><SPAN
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face=Helvetica><FONT color=#141823><SPAN
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<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>
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