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Articles:

- Ferretti F., Editorial Introduction: Consumers in the Digital Single Market, European Business Law Review, Volume 33, Issue 4 (2022) pp. 477 – 484. https://kluwerlawonline.com/journalarticle/European+Business+Law+Review/33.4/EULR2022022

- Ferretti F., A Single European Data Space and Data Act for the Digital Single Market: on Datafication and the Viability of a PSD2-like Access Regime for the Platform Economy, «EUROPEAN JOURNAL OF LEGAL STUDIES», 2022, 14, pp. 173 - 218

Abstract
In its new digital strategy for Europe, the EU highlights the need for better data-access and sharing. In line with this priority, it is working on a proposal for a Data Act that aims to provide the underlying legal framework. This paper seeks to disentangle key legal concepts and issues related to datafication that affect the envisaged European Data Space. It reveals that the EU has already a suited regulatory model provided by the Payment Services Directive 2 (‘PSD2’). It focuses on the market imbalances of the platform economy and challenges the legitimacy of large technological companies (‘Big-Techs’). These act as gatekeepers to maintain a key role in data-access and monetise their data dominance. The existence of a data market itself is cast into question; instead, it is suggested that the EU already has a viable legislative model provided by the sectoral legislation of the (‘PSD2’). Its data-access model could be applied horizontally across data-driven markets and the platform economy without engineering new rules or adding regulatory layers.

- Ferretti F., Open Banking: Gordian legal knots in the uncomfortable cohabitation between the PSD2 and the GDPR, «EUROPEAN REVIEW OF PRIVATE LAW», 2022, 30, pp. 73 - 101

Abstract
ABSTRACT: This work analyses problems in the legal framework of Open Banking enabled by the PSD2. It goes through the role of EU law in the regulation of payment services up to their transition towards digitalisation and fintech, to show the scale of the changes brought by the PSD2 in a territory unfamiliar to traditional banking. The resulting conflation between banking and the data economy reveal a brand-new market. The normative intersection between the PSD2 and the GDPR expose not only poor coordination but also a growing entanglement of legal knots. The legal inconsistencies, loopholes, and interpretative difficulties are examined to expose operational risks beyond difficulties of legal technicism. A rethinking, or at least a correction, of the European regime of Open Banking is necessary to reconcile the needs of an emerging market and the protection of its users.
RÉSUMÉ : Cet article analyse les problèmes du cadre juridique de l'Open Banking permis par la PSD2. Il passe par le rôle du droit communautaire dans la régulation des services de paiement jusqu'à leur transition vers la digitalisation et la fintech, pour montrer l'ampleur des changements apportés par la PSD2 dans un territoire peu familier à la banque traditionnelle. L'amalgame qui en résulte entre la banque et l'économie des données révèle un tout nouveau marché. L'intersection normative entre la PSD2 et le RGPD expose non seulement une mauvaise coordination, mais aussi un enchevêtrement croissant de nœuds juridiques. Les incohérences juridiques, les lacunes et les difficultés d'interprétation sont examinées pour exposer les risques opérationnels au-delà des difficultés de technicité juridique. Repenser, ou du moins corriger, le régime européen d'Open Banking est nécessaire pour concilier les besoins d'un marché émergent et la protection de ses utilisateurs.
ZUSAMMENFASSUNG: Diese Arbeit analysiert die Probleme im rechtlichen Rahmen des Open Banking, das durch die PSD 2 ermöglicht wurde. Sie erläutert die Rolle des EU-Rechts bei der Regulierung von Zahlungsdiensten bis hin zu ihrem Übergang in Richtung Digitalisierung und Fintech, und zeigt das Ausmaß der Veränderungen auf, welche die PSD2 in einem - dem traditionellen Bankwesen unbekannten - Gebiet mit sich gebracht hat. Die daraus resultierende Verschmelzung von Bankdienstleistungen und Datenökonomie eröffnet einen völlig neuen Markt. Die normative Überschneidung zwischen der PSD 2 und der DSGVO offenbart nicht nur die mangelnde Abstimmung zwischen diesen Materien, sondern auch eine wachsende Verstrickung rechtlicher Knoten. Die normativen Inkonsistenzen, Rechtslücken und Auslegungsschwierigkeiten werden untersucht, um operative Risiken jenseits der rechtstechnischen Schwierigkeiten aufzudecken. Ein Umdenken oder zumindest eine Korrektur der europäischen Regelung des Open Banking ist notwendig, um die Bedürfnisse eines Schwellenmarktes mit dem Schutz seiner Nutzer in Einklang zu bringen.

- Ferretti F., L’open banking e le troppe zone grigie del conflitto tra la legislazione europea sui pagamenti e la tutela dei dati personali, federalismi.it, Rivista di diritto pubblico italiano, comparato, europeo, 7 April 2021

 - Ferretti F., Peer-to-Peer Lending and EU Credit Laws: A Creditworthiness Assessment, Credit-Risk Analysis or … Neither of the Two?, German Law Journal. Link https://germanlawjournal.com/volume-22-issue-1/.

 - Borghi M., Exceptions as users’ rights in EU copyright law, paper.

- Kosta E., Algorithmic state surveillance: Challenging the notion of agency in human rights, in Regulation & Governance, 2020, DOI: 10.1111/rego.12331.

- Alvisi M., Carbonara E., (2020) “Cocktails Done Right: Price Competition and Welfare When Substitutes Become Complements”, Journal of Economics. Link https://doi.org/10.1007/s00712-020-00690-z

Abstract: In this paper we analyze the effects of the introduction (by either firms or authorities) of a composite good consisting of a fixed proportion of two imperfectly substitutable stand-alone products. First, we find that such a “cocktail” rises the Bertrand equilibrium prices as it introduces a certain degree of complementarity. It also creates incentives to price discriminate and products can be sold at a discount or at a premium (depending on their degree of substitutability) when they are used as part of the composite good. We consider two distinct forms of price discrimination: a traditional one, in which producers set their prices independently of each other and a coordinated one, in which producers cooperate (collude) when setting the price of the composite good. Composite goods might have either a positive or a negative impact on consumer surplus. The sign of the impact depends on the form of price discrimination and consumers tend to be better off if producers coordinate. The impact is also more likely to be positive if “cocktails are done right”, i.e., if their quality is high compared to the quality of the stand-alone products.

 - Cherednychenko O. O., (2019) Rediscovering the Public/Private Divide in EU Private Law, European Law Journal, pp. 1-21. Link https://doi.org/10.1111/eulj.12351

Abstract: This article explores the role of the public/private divide within EU private law. It shows that although EU private law cuts across the boundaries of public and private law, the conceptual distinction between these well‐established categories does matter within it and may lead to better law‐making in the EU more generally. The legal grammar of a particular EU harmonisation measure—which can be more “public” or “private”—may have important implications for the position of private parties at national level, for the CJEU's likely activism in this context, and ultimately for the measure's ability to realise its policy goals. Therefore, instead of ignoring the existing differences between public and private law, EU law should explicitly adopt the public/private law language in its discourse, without, however, introducing any sharp divide between these two areas.

 - Cherednychenko, O. O., Meindertsma, J. M., (2019) Irresponsible Lending in the Post-Crisis Era: Is the EU Consumer Credit Directive Fit for Its Purpose?, Journal of Consumer Policy, 42(4), pp. 483-519. Link https://doi.org/10.1007/s10603-019-09421-4

Abstract: More than a decade after the outbreak of the global financial crisis, consumers across the EU have been increasing their level of debt in terms of both volume and value of consumer credit products. Among the reasons for this trend are the low interest rate environment, the novel business practices of lenders aimed at finding new revenue sources, such as fees and charges on loans, and the innovative business models emerging in an increasingly digital marketplace, such as peer-to-peer lending. These developments present new risks to consumers and pose new challenges for regulators in terms of how to address them. This article aims to uncover the problematic aspects of consumer credit provision in the post-crisis lending environment across the EU and to assess to what extent the 2008 Consumer Credit Directive currently in force, which aims to ensure adequate consumer protection against irresponsible lending, is fit for its purpose today. In this context, the article explores the general meaning of “responsible lending” with emphasis on consumer credit, identifies the most imminent irresponsible lending practices in the consumer credit markets, and tentatively analyses their key drivers. It also reveals some important limitations of the Consumer Credit Directive in providing adequate consumer protection against irresponsible lending and offers tentative recommendations for improvement. In the authors’ view, the time now seems ripe for striking a different balance between access to credit and consumer protection in European consumer credit law.

  - Cherednychenko O. O., (2019) EU Financial Regulation, Contract Law and Sustainable Consumer Finance, in E. van Schagen, & S. Weatherill (Eds.), Better Regulation in EU Contract Law: The Fitness Check and the New Deal for Consumers (pp. 61-91). (Studies of the Oxford Institute of European and Comparative Law; Vol. 29). Oxford: Hart Publishing / Bloomsbury Publishing Plc. Link https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3521472