The digital economy forms a central driver to future prosperity – delivering waves of innovation, efficiencies and consumer welfare. It has stimulated a shift in market dynamics, paving the way to the emergence of key platforms, networks and the proliferation of multi-sided markets. We get more of what we want, when we want it. So much for so little. But behind the façade of competition and prosperity, a well-oiled machine operates, powered by big data and advanced analytics. A machine which could benefit us, but just as well, deployed to exploit us. The lecture by Ariel Ezrachi, Slaughter and May Professor of Competition Law, University of Oxford, will explore the use of algorithms to fix prices, the use of hub-and-spoke instruments to align strategies, and the use of advance algorithms to harvest data, target users and exploit them through behavioral and price discrimination. Should we embrace the illusion of autonomy and competition in controlled eco-systems, keep calm and happily carry on? Or does this new reality call for measured action and the adaptation of competition law enforcement?
Date: 18 September 2019 (Wed)
Time: 6:30 pm
Venue: Academic Conference Room, 11/F Cheung Yu Tung Tower, Centennial Campus, The University of Hong Kong