Dynamic Challenges to Market Definition and Market Power Evaluation in Antitrust Cases: The Long Road Ahead

Dynamic competition is the new kid on the block. It seeks to redirect the focus of competition policy towards innovation, value creation and economic change. Dynamism is indeed at the heart of competition. What’s not to like? The intuitive appeal of dynamic competition is hard to contest. Yet its practical application poses a series of challenges to traditional competition law tools such as market definition and marker power evaluation. Certainly, there is an emerging “dynamic” way of identifying competitors and assessing competitive effects that is fit for dynamic industries characterized by rapid innovation and technological development. But how accommodating is the existing competition law framework to it? Here is a broad review of the challenges that lie ahead for the currently mostly “static-minded” antitrust.