Dilemma and Breakthrough: Review on Substitution Analysis of the Definition of Relevant Markets and Platforms—From the Perspective of Guideline on Anti-Trust Platform Economy by the Anti-Trust Committee of the State Council

The prosperity of platform economy posed new issues for antitrust law enforcement and new challenges to the definition of relevant markets in antitrust investigations. Substitution analysis is not only a traditional method of relevant market definition, but also the underlying logic throughout the process of relevant market definition. It can still be applied to relevant market definition in the context of platform economy. Based on the Guideline of Platform Antitrust, this paper starts with the regulations about the definition of relevant markets in platform economy. It briefly analyzes the dilemmas of traditional methods of defining relevant markets in platform economy. Then, it reviews the limitation and rationality of substitution analysis of relevant market definition.