European market oversight reforms: a critical look at types and objectives of intervention.

This article discusses recent reforms in European market oversight, specifically focusing on Significant and Sustainable Market Power (SSMP) in big tech digital markets. The reforms aim to address concentration and market power, with economists generally agreeing on their necessity. However, there are dissenting voices and concerns about potential stifling of innovation and reduced welfare. The article explores the complexities and challenges of implementing these reforms, including the trade-offs between fairness and welfare, the difficulties in creating effective interfaces for designated gatekeeper platforms, and the debate between welfarist and non-welfarist standards in competition law. The importance of consumer welfare and the potential inclusion of other objectives, such as fairness and innovation, are also considered. [Extracted from the article]