Cooperative Antitrust Monopolization and the Theory of Contestable Markets

Terence Centner and Michael E. Wetzstein

Journal of Agricultural and Applied Economics, 1984, vol. 16, issue 1, 129-136

Abstract: The judiciary has relied on a firm's market share to evaluate the presence of monopoly power for a Sherman Act monopolization violation. However, an allegation that a firm's market share constitutes monopoly power may be refuted by evidence that there exists a contestable market. Contestable market theory shows that there is no monopoly power where there exists a threat of entry of other firms. This theory thereby offers agricultural cooperatives, which may have a large market share by reasons of the antitrust immunity provided by the Capper-Volstead Act, an argument to overcome allegations of a Sherman Act monopolization violation.

Date: 1984
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