Market definition

Posted by Social Science Research Network

Market definition

By Steven C. Salop (Georgetown University), Serge Moresi & John Woodbury (Charles River Associates)

Abstract:     We explain the “hypothetical monopolist test” that has become the standard methodology for identifying relevant antitrust markets in merger cases, and discuss two approaches to implementing the test. We then focus on the implementation of the test when firms offer multiple products or services, either inside or outside the candidate market, and discuss the “hypothetical cartel test” introduced in the 2010 US Merger Guidelines.

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