A Coat of Many Colours—New Concepts and Metrics of Economic Power in Competition Law and Economics

Abstract The digital economy has brought new business models that rely on zero-price markets and multi-sided platforms nested in ecosystems. traditional concept of market power used by competition authorities cannot engage with this reality which (economic) manifests beyond price output within a relevant market. These developments have culminated multiple recent calls for more multidimensional power. Consequently, suggestions over concepts triggering antitrust/regulatory intervention, such as ‘strategic status’, ‘conglomerate power’, ‘intermediation ‘structuring platforms’, or ‘gatekeepers’ proliferated to complete, even substitute, the archetypical monopoly law. However, theoretical framework can set basis metrics is missing. This article makes three contributions direction. First, we conceptualize different forms go single terms law economics. Second, propose measure two power: panopticon based differential dependency between value co-creators. Third, test latter show how they could reduce false positives negatives when assessing dominance.