Sequential versus simultaneous market

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dc.contributor.author	Haldrup, Niels	en_US
dc.contributor.author	Møllgaard, Peter	en_US
dc.contributor.author	Kastberg Nielsen, Claus	en_US
dc.date.accessioned	2009-02-04T10:27:54Z
dc.date.available	2009-02-04T10:27:54Z
dc.date.issued	2005-04-12T00:00:00Z	en_US
dc.identifier.uri	http://hdl.handle.net/10398/7633
dc.description.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 Norwegian and Scottish salmon, we propose a methodology for simultaneous market delineation and we demonstrate that compared to a sequential approach conclusions will be reversed. JEL: C3, K21, L41, Q22 Keywords: Relevant market, econometric delineation, salmon.	en_US
dc.format.extent	24 s.	en_US
dc.language	eng	en_US
dc.relation.ispartofseries	Working paper;2005-002	en_US
dc.title	Sequential versus simultaneous market	en_US
dc.type	wp	en_US
dc.accessionstatus	modt05apr11 miel	en_US
dc.contributor.corporation	Copenhagen Business School. CBS	en_US
dc.contributor.department	Økonomisk Institut
dc.contributor.departmentshort	ECON	en_US
dc.contributor.departmentuk	Department of Economics	en_US
dc.contributor.departmentukshort	ECON	en_US
dc.idnumber	x656467621	en_US
dc.publisher.city	København	en_US
dc.publisher.year	2005	en_US
dc.title.subtitle	The relevant antitrust market for salmon	en_US