Comparative Analysis of the Concepts of “Market Power” and “Bargaining Power” in the Context of Antitrust Regulation

The article aims to distinguish the concepts of market power and bargaining power, which remains relevant in the conditions of modern antitrust regulation. The paper describes the current approaches to understanding these phenomena. An attempt is made to include not only market power but also bargaining power into the theoretical model. It analyzes real situations in which a correct understanding of market power and bargaining power was crucial for deciding on the need to apply antitrust regulation measures. To date, antitrust regulation has been focusing on the consideration of market power only, but when determining the justification for the application of certain effects, it is necessary to take into account that the manifestations of market power may be similar to the effects of asymmetry in the distribution of bargaining power, as well as to clearly distinguish between these phenomena. It is noted that each case requires an individual approach to assessing the impact on public welfare of both the phenomena themselves and the applied regulatory impacts. Results of this article may be useful for a more detailed analysis of the market in case of antitrust proceedings, reducing the probability of making type I and II errors in antitrust regulation.