Ioannis Lianos (U College London Laws) has posted “Synthetic Futures and Competition Law: Towards the Emergence of Precautionary Principle-Minded Approaches” (Forthcoming Theoretical Inquiries in Law) on SSRN. Here is the abstract:
The study presents an in-depth analysis of the challenges faced by competition law enforcement in light of the rapid advancements in AI, quantum computing, and synthetic biology. It delves into the various approaches that competition law institutions, such as competition agencies and courts, can adopt to address the uncertainties surrounding the competition impact of corporate strategies and conduct in developing and applying these new General Purpose Technologies. The study focuses on the four key features of this “coming wave”: asymmetry, hyper-evolution, omni-use, and autonomy, all interconnected with the rise of complex systems that contribute to uncertainty. It explores the limitations of the Ordinary Risk Management (ORM) approach typically followed in competition law, based on the expected utility framework in such situations. The study advocates for the application of the precautionary principle as a more accurate description of the approach taken by competition authorities in this context and a more normatively adequate option for regulating threats of harm in complex systems and integrating responsible innovation concerns. Moreover, the study extensively examines how the precautionary principle can be seamlessly integrated into the design of competition law institutions and the substance of competition law, discussing the various containment tools used by competition authorities to address uncertainty.