Market Definition in Antitrust Theory and Case Studies

Market Definition in Antitrust: Issues and Case Studies provides a comprehensive analysis of the issues involved in defining markets in antitrust cases. Market definition is central to most antitrust cases, because determining the existence of market power typically requires the definition of a relevant market. This book will prove a valuable guide to antitrust practitioners and consulting economists who are dealing with market definition.

This book is a thorough and accessible single volume practical guide to the definition of relevant markets and to empirical techniques that have been used in a variety of industries. The first chapter provides an overview of the theoretical concept of a relevant market. The remaining chapters provide industry-specific illustrations of how markets are defined in different contexts. The economic and legal analysis of product market definition has advanced significantly past the simple tests that were put forth in the Supreme Court's 1962 decision in Brown Shoe Co. v. United States. Similarly, the analysis of geographic markets has come to recognize the limitations of the tests that focus exclusively on shipment patterns.

Data limitations and institutional considerations mean that there is no cookie-cutter approach to market definition that can be applied in all contexts. This book describes modern methods of market definition and analyzes their application in actual cases.