Book Launch: “Algorithmic Antitrust”
Algorithms are ubiquitous in our daily lives. They affect the way we shop, interact, and make exchanges in the marketplace. In this regard, algorithms can also shape the terms of competition. Antitrust agencies have increasingly recognized the competitive benefits algorithms present, but they also perceive competitive risks. Consequently, a so-called “algorithmic antitrust” theory and practice have begun to emerge. It is in this context that many algorithm-driven companies have been investigated, prosecuted, and fined in recent years, mostly for allegedly unfair algorithm design. Meanwhile, lawmakers are proposing legislation to regulate the way algorithms shape competition. The new book Algorithmic Antitrust (Springer, 2022) takes stock of these developments in a series of essays edited by Aurelien Portuese, director of ITIF’s Schumpeter Project on Competition Policy. It provides an innovation-driven perspective on the way antitrust agencies should assess algorithms as an antitrust matter.
Marking the release of Algorithmic Antitrust, ITIF’s Portuese moderated as the authors discussed their respective essays and debated how companies compete through algorithms and what it means for competition agencies.