Executive summary, by the Secretariat In light of the written submissions and the oral discussion, the following points emerge: (1) The developments of e-commerce have impacted the way competition works and the type of competition concerns that may arise. The literature on e-commerce has reviewed four issues: (i) search costs, (ii) how e-commerce affects the geographic scope of transactions, (iii) the distribution cost and (iv) how e-commerce affects the existence of information asymmetries between consumers and suppliers. Regarding (i), the Internet has lowered search costs but not to zero because consumers have exogenous search costs and firms adopt tactics to make more difficult for consumers to compare prices. As for (ii), although the Internet has expanded the geographic scope
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