Towards A Dynamic Competition Approach To Big Tech Merger Enforcement: The Facebook-Giphy Example

This paper explores how to elevate the importance of innovation and dynamic competition in antitrust enforcement. It explains that neglect of innovation stems from the employment of static frameworks and equilibrium models, when disequilibrium is characteristic of the competitive environment. The prescription advanced to remedy this lacuna is a focus on evolutionary, capability, and complexity economics. However, the adoption of new mental models, while obviously necessary, will not come easy be