tailieunhanh - Quantitative Techniques for Competition and Antitrust Analysis by Peter Davis and Eliana Garcés_5

Tham khảo tài liệu 'quantitative techniques for competition and antitrust analysis by peter davis and eliana garcés_5', khoa học xã hội, kinh tế chính trị phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | . Basic Concepts in Market Definition 163 heavily constrained it cannot raise the price beyond the point where too many consumers would switch mtuittvely. we will acetal if thiscoiistraimislarge enough to impose a significant restriction on the electricity producer s ability to increase prices then the market should bedefinedastheenergymarket electticityplus gasor coal and in this wider market theeleatrtcity monopaCistwill have littte marketpoweh In the paragraph above we have drawn a cteasdistinctianbaiweea a wartdwhere very few consumers would swiicl d lliCt kica ericertceend it worSdwhercmeey consumers would switch followsae a price Cec. 01 106 iCcoiii-iCillie wariwta often far less black and white and ar acasu1iwemcygtk how muth prion reasttivity is enough to define a narrow m dhei Whendeeetheebntm iadiffewootrate aim into market power When is subfSitPtion lofpn etiougW Howmuca 1 81 01 exactly does one need between twapioducts gogutthem inthereme i t e iỉi ĩ í ts urally theory provides only vert si-ũ a l iii a wars to such fmestienu and ac e retttt practitioners commonly use quentitefivu benchm dstdataregeneretln aecadtan and which ensure some consisteneg is ihedaeidiee-mgdmgprooefs. feeaxample in much of the discussion that foUows we wifi ce ãaersvlit ther pdtee tnmaasef of 5 or 10 are profitable waendeWntnc aawWets. hven thee il Is importact te note that market definition in pddeticooftcnrequtdcftha aaerctiaoh evtdcece-gasan judgment where the evidence can WeoC ff C e iaPi . Supply and Demand SkWs itutaWitity The key factors that limit markeieawar thcabifity toeeraa rr sd wc theeom-petitive level are the extent of demand substitutability and the extent and nature of supply reaction in particular of describeeach ofthese concepts below since any marketdefiniiienexercl e will exeminaeoah yfttem Ih detail. We also describe the facithal it madkythefinitian anefciraeruallygioceeds along two dimensions 1 a produce llarS ieltk .