Generalized Critical Loss for Market Definition

Malcolm B. Coate and Mark D. Williams

A chapter in Research in Law and Economics, 2007, pp 41-58 from Emerald Group Publishing Limited

Abstract: This paper generalizes the critical loss concept of Harris and Simons to account for a broader range of possible cost structures. Our analysis presents a specialized market-level equilibrium for a relatively homogeneous good in which the Harris and Simons’ critical loss structure is appropriate for market definition. Then, we broaden the equilibrium and propose a generalized critical loss analysis. Of course, for relatively differentiated goods, market definition analysis would use firm-level modeling and therefore the standard market-level critical loss modeling could be inappropriate.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rlwezz:s0193-5895(06)22003-7

DOI: 10.1016/S0193-5895(06)22003-7

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