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Sequential Versus Simultaneous Market Delineation: The Relevant Antitrust Market for Salmon

Author

Listed:
  • Niels Haldrup
  • Peter Mollgaard

    (Copenhagen Business School)

  • Claus Kastberg Nielsen

Abstract

Delineation of the relevant market forms a pivotal part of most antitrust cases. The standard approach is sequential. First the product market is delineated, then the geographical market is defined. Demand and supply substitution in both the product dimension and the geographical dimension will normally be stronger than substitution in either dimension. By ignoring this one might decide first to define products narrowly and then to define the geographical extent narrowly ignoring the possibility of a diagonal substitution. These reflections are important in the empirical delineation of product and geographical markets. Using a unique data set for prices of Norweigan and Scottish salmon, we propose a methodology for simultaneous market delineation and we demonstrate that compared to a sequential approach conclusions will be reversed.

Suggested Citation

  • Niels Haldrup & Peter Mollgaard & Claus Kastberg Nielsen, 2005. "Sequential Versus Simultaneous Market Delineation: The Relevant Antitrust Market for Salmon," Working Papers 05-2, Centre for Competition Policy, University of East Anglia.
    • Handle: RePEc:ccp:wpaper:wp05-02
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    File URL: http://www.ccp.uea.ac.uk/publicfiles/workingpapers/CCP05-2.pdf
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    Cited by:

    1. is not listed on IDEAS
    2. Zipitria, Leandro, 2010. "New Directions in Price Test for Market Definition," MPRA Paper 58046, University Library of Munich, Germany.
    3. Willem H. Boshoff, 2007. "Stationarity Tests In Geographic Markets: An Application To South African Milk Markets," South African Journal of Economics, Economic Society of South Africa, vol. 75(1), pages 52-65, March.
    4. Vladimír Hajko & Jaroslav Bil, 2013. "The Relevant Markets for Meat Production and Processing in the Czech Republic: Analysis of the Price Movements," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 7(3), pages 178-197, November.

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    Keywords

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    JEL classification:

    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery

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