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North American Industry Classification System (NAICS). NAICS uses a hierarchical structure with sectors represented by 2-digit codes, such as Manufacturing (31-
by rexpop 2y ago
North American Industry Classification System (NAICS). NAICS uses a hierarchical structure with sectors represented by 2-digit codes, such as Manufacturing (31-33) or Retail Trade (44-45).
In antitrust law, a "market" is defined as an area of effective competition that includes both product (or service) and geographic dimensions. The US Department of Justice and Federal Trade Commission use market definitions to evaluate competition under laws like the Clayton Act.
Tools like the hypothetical monopolist test are used to determine whether a market is too narrow by assessing if a monopolist could profitably raise prices.
> Also, if you invent something so novel it makes a new market, that would imply you are immediately taxed at 100%.
Fine, pick some fractional coefficient.
- JoshTriplett 2y agoI'd be more inclined to scale it based on total revenue. There's a big difference between having 100% of a new market you just recently created that only makes $1M/year and having 90% of a decade-old market that makes $10B/year. (That said, there are a hundred other things that'd need fixing for such a hypothetical to be viable, let alone desirable. This was just the thing that stood out the most to me, particularly on a site centered around startups.)