SEQUENTIAL VERSUS SIMULTANEOUS MARKET DELINEATION: THE RELEVANT ANTITRUST MARKET FOR SALMON
Delineation of the relevant market constitutes a pivotal part of most antitrust cases. The standard analysis utilizes a sequential approach. First, the product market is delineated; then the geographical market is defined. Demand and supply substitution in both the product dimension and the geograph...
Main Authors: | , , |
---|---|
Format: | Article in Journal/Newspaper |
Language: | unknown |
Subjects: | |
Online Access: | http://hdl.handle.net/10.1093/joclec/nhn020 |
id |
ftrepec:oai:RePEc:oup:jcomle:v:4:y:2008:i:3:p:893-913. |
---|---|
record_format |
openpolar |
spelling |
ftrepec:oai:RePEc:oup:jcomle:v:4:y:2008:i:3:p:893-913. 2024-04-14T08:09:14+00:00 SEQUENTIAL VERSUS SIMULTANEOUS MARKET DELINEATION: THE RELEVANT ANTITRUST MARKET FOR SALMON Niels Haldrup Peter Møllgaard Claus Kastberg Nielsen http://hdl.handle.net/10.1093/joclec/nhn020 unknown http://hdl.handle.net/10.1093/joclec/nhn020 article ftrepec 2024-03-19T10:27:23Z Delineation of the relevant market constitutes a pivotal part of most antitrust cases. The standard analysis utilizes a sequential approach. First, the product market is delineated; then the geographical market is defined. Demand and supply substitution in both the product dimension and the geographical dimension will normally be stronger than substitution in either dimension. By ignoring this, one might decide first to define products narrowly and then define the geographical extent narrowly, ignoring the possibility of a diagonal substitution. These reflections are important in the empirical delineation of product and geographical markets. Using a unique dataset for prices of Norwegian and Scottish salmon, we propose a methodology that allows for simultaneous market delineation. We then show that market delineation may depend on the choice of method: a simultaneous method reverses the conclusions of a sequential approach as regards the delineation of the market for Atlantic salmon in Europe. Article in Journal/Newspaper Atlantic salmon RePEc (Research Papers in Economics) |
institution |
Open Polar |
collection |
RePEc (Research Papers in Economics) |
op_collection_id |
ftrepec |
language |
unknown |
description |
Delineation of the relevant market constitutes a pivotal part of most antitrust cases. The standard analysis utilizes a sequential approach. First, the product market is delineated; then the geographical market is defined. Demand and supply substitution in both the product dimension and the geographical dimension will normally be stronger than substitution in either dimension. By ignoring this, one might decide first to define products narrowly and then define the geographical extent narrowly, ignoring the possibility of a diagonal substitution. These reflections are important in the empirical delineation of product and geographical markets. Using a unique dataset for prices of Norwegian and Scottish salmon, we propose a methodology that allows for simultaneous market delineation. We then show that market delineation may depend on the choice of method: a simultaneous method reverses the conclusions of a sequential approach as regards the delineation of the market for Atlantic salmon in Europe. |
format |
Article in Journal/Newspaper |
author |
Niels Haldrup Peter Møllgaard Claus Kastberg Nielsen |
spellingShingle |
Niels Haldrup Peter Møllgaard Claus Kastberg Nielsen SEQUENTIAL VERSUS SIMULTANEOUS MARKET DELINEATION: THE RELEVANT ANTITRUST MARKET FOR SALMON |
author_facet |
Niels Haldrup Peter Møllgaard Claus Kastberg Nielsen |
author_sort |
Niels Haldrup |
title |
SEQUENTIAL VERSUS SIMULTANEOUS MARKET DELINEATION: THE RELEVANT ANTITRUST MARKET FOR SALMON |
title_short |
SEQUENTIAL VERSUS SIMULTANEOUS MARKET DELINEATION: THE RELEVANT ANTITRUST MARKET FOR SALMON |
title_full |
SEQUENTIAL VERSUS SIMULTANEOUS MARKET DELINEATION: THE RELEVANT ANTITRUST MARKET FOR SALMON |
title_fullStr |
SEQUENTIAL VERSUS SIMULTANEOUS MARKET DELINEATION: THE RELEVANT ANTITRUST MARKET FOR SALMON |
title_full_unstemmed |
SEQUENTIAL VERSUS SIMULTANEOUS MARKET DELINEATION: THE RELEVANT ANTITRUST MARKET FOR SALMON |
title_sort |
sequential versus simultaneous market delineation: the relevant antitrust market for salmon |
url |
http://hdl.handle.net/10.1093/joclec/nhn020 |
genre |
Atlantic salmon |
genre_facet |
Atlantic salmon |
op_relation |
http://hdl.handle.net/10.1093/joclec/nhn020 |
_version_ |
1796306720024166400 |