Spring 2007, Volume 3, Number 1
Our fifth issue of Competition Policy International brings diverse fare from 29 leading economists and lawyers from the European Community and the United States. We begin, as most antitrust matters do, with market definition: a controversial aspect of antitrust analysis at least since Franklin Fisher´s seminal critique based on his involvement in the IBM litigation. Real economists do not define markets, they use microeconomics to examine competitive effects. There´s much wisdom in that position. Yet many economists, including me, have found that market definition can be helpful as a screening device, particularly in merger cases.