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• W235481567 abstract "I. INTRODUCTION: THE FTC REPORT In June 2000, the Federal Trade Commission held a workshop designed to educate the Commission about the emerging technology of business-to-business electronic marketplaces (B2Bs). (1) The workshop provided a forum for industry leaders, Commission staff, antitrust practitioners, and legal scholars to exchange ideas about the role B2Bs will play in changing the landscape of competitive markets. (2) The FTC summed its position in a report that scrutinized the commercial platforms and their potential threat to competition. (3) The report set forth the guidelines that the Commission will follow in the future when reviewing the competitive behavior of both the B2Bs and those transacting business on them. (4) The FTC concluded that the traditional legal framework is amenable to antitrust issues raised on B2Bs. (5) This Note seeks to expose a weakness in the Commission's conclusion. It posits that the challenges posed by the architecture of the B2B marketplace, combined with modern evidence rules, render traditional antitrust enforcement mechanisms impotent. Specific regulation will be required where the common law will fail. The second and third sections of this Note deal with identifying a B2B and discuss its most recognizable virtue: potential for leaner transactions. The fourth section examines market transparency, a potential source of difficulty for antitrust enforcers. The fifth section attempts to show how modern evidence rules, when combined with a transparent marketplace, make a B2B antitrust case extremely difficult to prosecute. The paper concludes with legislative recommendations that, once implemented, will allow courts to return to the common law's rule of reason/per se analysis. (6) II. WHAT IS AN ELECTRONIC MARKETPLACE? The electronic marketplace is not a new system by today's dynamic standards. The Nasdaq stock market is based on an electronic platform, eBay has facilitated electronic transactions for over seven years, (7) and every major retailer has the capability to sell its wares online. (8) A platform that allows a buyer and seller to meet and transact over an electronic medium is an electronic marketplace. (9) There are business-to-consumer electronic marketplaces (B2Cs), which procure vertical transactions between a business-seller and consumer-buyer. (10) A common example of a B2C is the airlines' venture, Orbitz. (11) As consumers, our participation in B2Cs indicates that we appreciate the efficiency of these transactions: we shop from home rather than drive to the mall, we buy our airline tickets with a mouse click rather than a lengthy phone call, and today I actually ordered milk and cereal for delivery by visiting the website of my local grocery store. In the meantime I wrote this paragraph; is there better evidence that society is better off when we save time making our purchases? The same principle applies for commercial transactions. Less time spent finding sellers of inputs or buyers for output means lower transaction costs for businesses. Society is better off because those resources used for the transaction can be reallocated towards production. (12) The mechanism of the B2B electronic transaction can be demonstrated with a simple hypothetical: American Motors purchases 50,000 brake pads for its winter production line. A month before completion, it realizes it will use only 40,000. The inventory manager posts the surplus for sale on the industry B2B. Enter GermanAmerican Motors, who will fall 10,000 brake pads short. Rather than going to a supplier for a small and therefore costly order or manufacturing the pads in-house, GermanAmerican logs on to the industry B2B. It sees the pads for sale, posts a bid, and makes a purchase. III. THE EFFICIENCIES B2Bs will have the most penetrating impact in the manufacturing sector, where transaction costs are unnecessarily bloated. (13) A survey conducted by the National Association of Manufacturers found that only one percent of manufacturers conduct e-commerce on their web sites and 20 percent lack web presence completely. …" @default.
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• W235481567 date "2002-06-22" @default.
• W235481567 modified "2023-09-25" @default.
• W235481567 title "Antitrust Enforcement in Electronic B2B Marketplaces: An Application of Oligopoly Theory and Modern Evidence Law" @default.
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