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Article: Market Definition: Use And Abuse.
- Article from:
- Mondaq Business Briefing
- Article date:
- February 6, 2008
CopyrightCOPYRIGHT 2008 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Competition Policy International (CPI), Vol. 3, No. 1, Spring 2007, pp. 3-27. CPI is a peer-reviewed, academic journal (print ISSN 1554-0189; online ISSN 1554-6853) that covers competition law, economics, and policy. More information about CPI can be found at www.globalcompetitionpolicy.org.
Article Abstract
Market definition is a crude though sometimes useful tool for identifying market power. The ambiguity in what analysts mean by market power (price above marginal cost, or excess profits) cannot be resolved by market share. When used to analyze a merger or U.S. Sherman Act Section 2 case, it is not just the level of market shares, but also the ...