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Market boundaries and competition peculiarities in the markets of Visa and Master Card services: the lessons of antitrust law application

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  • Yusupova, G.

  • Sukhorukova, K.

Abstract

The uniform approach to identify the markets like market of payment systems’ services (two-sided markets with network effects) has not been presented yet in the modern economic and law literature. There is also no unique answer to the basic question - how the boundaries of such a market should be identified. This paper describes the features of two-sided markets with network effects, presents a review of cases of foreign antitrust authorities against payment systems, and also the characteristics of market identification in these cases.The performed analysis allowed drawing a conclusion on the application of the universal rules, similar to those described in The Procedure of competitive situation analysis in the product markets, in the antitrust policy. The procedure of economic analysis in the markets with the special structures can go far beyond the strict rules described in this Procedure and can require using of more instruments.

Suggested Citation

  • Yusupova, G. & Sukhorukova, K., 2014. "Market boundaries and competition peculiarities in the markets of Visa and Master Card services: the lessons of antitrust law application," Journal of Modern Competition, Synergy University, issue 6, pages 31-49.
    • Handle: RePEc:snr:mdrcmp:y:2014:i:6:p:31-49
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