The practical problems of market definition revisited

Article Abstract:

Use of the Stigler-Sherwin means of analyzing market share has some value in cases brought under Australia's Trade Practices Act 1974, but there are limits to the model's value as well. Price correlations can be relevant to find independent variables and to demonstrate autocorrelation, but causality should not be inferred from price correlation. Analysis should also account for substitute goods and technology change. The Stigler-Sherwin model is used for market definition by delineating the market based on price correlations.

Analysis, Cases, Antitrust law

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Authorisation: some issues

Article Abstract:

Australia's process of authorizing mergers to preserve competition under the Trade Practices Act 1974 has been successful but not free of problems. Questions have been raised as to what constitutes a public benefit under the law and whether efficiency gains should be considered. Direct access to the Australian Competition Tribunal has been suggested as a means of resolving these problems, but such access would undermine national competition policy.

Competition (Economics), Laws, regulations and rules, Powers and duties, Australia. Competition and Consumer Commission

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The strategic approach to merger enforcement by the ACCC: a comment

Article Abstract:

The Australian Competition and Consumer Commission's (ACCC) adoption of a combined structural and strategic behavior approach to assessing the impact of mergers should be supported. A structural approach, which looks at the market power of the companies mergering, cannot predict in and of itself a merger's impact. Including strategic behavior provides a more consistent basis for assessing impact, especially in oligopolistic markets.

Research, Models, Acquisitions and mergers

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