Topic 1: Market power and market definition
Program
Introduction to course
Assessing market power
Academic market power vs. competition policy market
power
Meaning of effective competition
Defining markets
Putting market definition in context
Legal requirement vs. economic value
Role of market definition outside mergers
Market definition vs. competitive effects analysis
Wholesale vs. retail market definitions
Reading
Basic textbooks
Motta, M. 2004. Competition Policy:Theory and Practice Cambridge University Press (chapters 2 and 3)
Bishop, S. and Walker, M. 2002. The Economics of EC Competition Law Sweet & Maxwell (second edition) (chapters 1 to 4)
Faull, J. and Nikpay, A. 2007. The EC Law of Competition Oxford University Press (chapter 1)
More advanced textbooks
Cabral, L. 2000. Introduction to Industrial Organisation , MIT Press (2000) (chapters 5, 9, 14, 15)
Church, J. and Ware, R. 2000. Industrial Organization: A Strategic Approach McGraw Hill, (chapters 2, 4 and 14)
Guidelines
Department of Justice and Federal Trade Commission. 1997 Horizontal Merger Guidelines Washington
Articles
Bresnahan (1989), “Empirical studies of industries with market power”, in Handbook of Industrial Organization, Volume II , Schmalensee and Willig (eds), North Holland.
