Regulating 'Gatekeepers': Predictable 'Unitended Consequences' of the DMA for Users' Welfare

In the December 2020, the European Commission has presented its proposal for a Digital Market Act (DMA) aiming at promoting competition and preventing unfair practices on digital markets. The DMA creates a new category of platforms, "gatekeepers'', based on criteria relative to their turnover and number of users, that will be subject to specific rules and obligations. Analyzing the current proposal from a law and economics perspective and taking into account the particularities of the digital economy, this paper observes that such a regulation based on the size of platforms is likely to hinder competition, reduce innovation and harm consumers.