GOVERNING MARKETS IN THE DATA DRIVEN ECONOMY (DDE) : AN ANALYSIS OF THE DIGITAL SINGLE MARKET (DSM) STRATEGY THROUGH THEORY OF REGULATION : A CRITICAL APPROACH

Abstract

In Part I the main ICT and economic features of the DDE and of digital platforms are introduced, along with an overview on the main legal issues posed by the disruptive business models at stake. Part II sets the scene for the following analysis, which is EU-centric. The European economic constitution is described, trying to provide a comprehensive reading of the Treaties. The main goals of European competition law and its relationship with economic regulation are identified. Part III describes all the legislative acts and initiatives so far implemented as part of the Digital Single Market (DSM) strategy. It also introduces the next actions planned by the newly established Commission, as well as the findings of the reports recently issued by national competition authorities and appointed groups of experts on digital platforms. Part IV focuses on the enforcement stage, conducting the analysis along three different vectors: Personal Data intensive Markets (e.g. social networks), Markets prone to Gatekeeping (e.g. e-commerce marketplaces) and Non-Personal Data Intensive Markets (e.g. manufacturing and agriculture). Part V moves from the preceding analysis of the recent enforcement interventions in digital markets to assess whether the application of the new legislative framework to hypothetical future scenarios of the same kind will be consistent with the European economic constitution and, especially, whether it will bring to efficient outcomes or not. Room for improvements is identified with reference to Personal Data intensive Markets and Markets prone to Gatekeeping. To this end, a set of targeted policy proposals is put forward. Conversely, the research concludes that it is too early to provide a judgement on the DSM approach to Non-Personal Data Intensive Markets (which, subject to further research, appears prima facie correct). Finally, some remarks on the best institutional design to pursue are offered, with a view of safeguarding basic principles of EU administrative law, such as the rule of law, legal certainty and the ne bis in idem principle. The main findings of the research are summarized in Part VI.