Convergence, Disruption, Growth: new regulatory trade-offs and challenges Antonio Nicita Autorità per le garanzie nelle comunicazioni, Italy And Sapienza UniversityRome International Symposium on Converging Technologies and Disruptive Communications - Moving Forward 10-11 th September 2018 , Bangkok, Thailand
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Convergence, Disruption, Growth: new regulatory trade-offs andchallenges
Antonio NicitaAutorità per le garanzie nelle comunicazioni, Italy
And Sapienza UniversityRome
International Symposiumon
Converging Technologies and Disruptive Communications - MovingForward10-11th September 2018, Bangkok,Thailand
Issues
1. The New “Fundamental transformation”
2. From (market) access to (contract) bargainingpower
3. From supply-sided to demand-sided regulatorypolicies
4. BAU, Doing wrong, Doing too little, Doing too much
5. Institutional Responses and globalcoordination
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1. A new “Fundamental, greattransformation”
• The Great Transformation, (Karl Polany,1944)• prior to the great transformation, markets played a very minor role in human
affairs and were not even capable of setting prices because of their diminutivesize: changes in the role of the State, the role o the market, the consumer-citizen behavior
• The ‘fundamental transformation’ (Oliver Williamson,1985)• From market to monopolistic/monopsonistic relationships due to ex-post
2. From (market) access to (contract) bargainingpower
• Once were access andnetworks…
• Once was co-evolution between networks and contents (broadcasters)
• NOW:
• Changes in vertical and value chain: Platforms, Big data,Artificial intelligence• New competitiveadvantage• New ‘marketpower’• Splintering and verticalintegration• 5G Challenge• Pluralism 2.0 (falsehood, hatespeech,minorities…)
• From access to interoperability• From market power to multi-sideddominance
• Click away versus path-dependency innovationpatterns
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3. From supply-sided to demand-sided regulatorypolicies
• Bounded rationality on consumers’side
• Switch, (individual and collective) switchingcosts
• (price and non price)Discrimination
• Gate-keepers and Captiveconsumers
• Nudge, a paternalisticregulator?
• Opt-in versus Opt-out policy?Chilling effects?
• Liberalization on the demand side (consumer’s bargaining power)?• Example ofApps that provide portability and bargaining power to consumers
• How to deal with competition and pluralism in content?
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4. BAU, Doing wrong, Doing too little, Doing too much
• Business As Usual• From Telco and Mediato convergent multi-side platforms• Competition for attention (big data), for captiveconsumers• Value chain versus traditional relevant markets (andmarket power)