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There are a whole bunch of edge cases you aren’t thinking about. Markets can be highly local (hospital markets, eg.), firms go out of business, new products en
by huitzitziltzin 3y ago
There are a whole bunch of edge cases you aren’t thinking about. Markets can be highly local (hospital markets, eg.), firms go out of business, new products enter new markets (smart phones, tablets), even defining “the market” is hard (does Sirius XM have a meaningful “monopoly” on satellite radio?). So your “make 95% market share illegal” idea is quite challenging (actually impossible) to work out
- flangola7 3y agoDifficult but absolutely not impossible. There's whole domains of law dedicated to identifying and defining these kinds of fuzzy edge cases. Anyone that tells you it is impossible has malign motivations.
- huitzitziltzin 3y agoHey - if you think you can do it go ahead. No one in the economics profession would oppose a usable definition of market which covered all of these cases (or even a subset of them) and made it easy. We aren’t failing to offer definitions here bc we’re in the tank for big tech. To immediately suggest we have malign motivations isn’t charitable. It’s genuinely a hard problem.
- YurgenJurgensen 3y agoWouldn't fixing all those edge cases defeat the point of something simple like a 95% rule? You'd be at the point where 95% is neither necessary nor sufficient and all of those laws covering the edge cases are the real law.
- mistercheph 3y agoYou have rediscovered the American legal system, the laws that cover the ‘edge’ cases are aptly named ‘case law’