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This is an audio recording of the panel discussion: Understanding Exclusionary Conduct in Cases Involving Multi-Sided Platforms: Predatory Pricing, Vertical Restraints, and MFN at the third Hearing on Competition and Consumer Protection in the 21st Century held at the Antonin Scalia Law School of George Mason University in Arlington, Virginia, on October 15-17, 2018. The theme of the hearing was "Multi-Sided Platforms, Labor Markets, and Potential Competition."