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> monopoly is used as shorthand for monopoly power No, it is used as shorthand for "market share in a market I define arbitrarily". Proving monopoly power is
by ucaetano 8y ago
> monopoly is used as shorthand for monopoly power
No, it is used as shorthand for "market share in a market I define arbitrarily".
Proving monopoly power is a much more complex and academic process.
- nabla9 8y agoAntitrust law is based on it. You can read here how it is defined and identified in practice. https://www.justice.gov/atr/competition-and-monopoly-single-firm-conduct-under-section-2-sherman-act-chapter-2 https://www.justice.gov/atr/competition-and-monopoly-single-...
- deleted 8y ago[deleted]
- ucaetano 8y agoYep, and from the link: The Supreme Court has defined market power as "the ability to raise prices above those that would be charged in a competitive market,"(8) and monopoly power as "the power to control prices or exclude competition." Those are the tests you need to pass to take action. And measuring that is a highly academic exercise. Just go talk to the economics professors and consultants that act as experts in those cases.