Relevant geographic market

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The implications of globalization for the definition of the relevant geographic market in competition and competitiveness analysis

Leo Sleuwaegen Isabelle De Voldere Enrico Pennings

Final report January 2001

TABLE OF CONTENTS
TABLE OF CONTENTS ................................................................................................................. 2 TABLE OF FIGURES..................................................................................................................... 3 TABLE OF TABLES ....................................................................................................................... 3 0 1 2 EXECUTIVE SUMMARY....................................................................................................... 4 INTRODUCTION.................................................................................................................... 7 GLOBAL INDUSTRIES .......................................................................................................... 9 2.1 2.2 2.3 2.4 MEASURING INDUSTRY GLOBALIZATION ............................................................................... 9 THE DRIVERS OFGLOBALIZATION ....................................................................................... 12 ARE SMALL COUNTRY MARKETS SHELTERED FROM GLOBALIZATION? .................................. 13 ICT AND THE EMERGENCE OF THE “NEW ECONOMY”.......................................................... 16

3 GLOBALIZATION AND THE DEFINITION OF THE RELEVANT (GEOGRAPHIC) MARKET INANTITRUST........................................................................................................... 22 3.1 3.2 3.3 THE RELEVANT MARKET CONCEPT IN ANTITRUST ................................................................ 22 EMPIRICAL ECONOMIC ANALYSIS IN GEOGRAPHIC MARKET DELINEATION ............................. 23 DEFINITION OF THE RELEVANT GEOGRAPHIC MARKET IN THE EC AND US MERGER REGULATIONS............................................................................................................................... 31 3.4 THE COMMISSION’ APPROACH IN PRACTICE ....................................................................... 36 S 3.5 INFORMATION GOODS AND ANTITRUST PRACTICE ................................................................ 45 3.6 CONCLUSION..................................................................................................................... 50 4 DEFINING THE RELEVANT GEOGRAPHIC MARKET: A METHODOLOGY ............ 51 4.1 4.2 4.3 4.4 4.5 4.6 5 SHIPMENTS DATA, PRICE DATA AND GEOGRAPHIC MARKET DELINEATION ............................. 51 BORDER EFFECTS............................................................................................................... 55 COMBINING BORDER EFFECTS WITH SHIPMENTS AND PRICE DIFFERENCE DATA ..................... 63 GLOBAL SUPPLY RESPONSE AND GLOBAL VERSUS MULTIMARKET COMPETITION ................... 65 A COMPREHENSIVE FRAMEWORK FOR DELINEATING THE RELEVANT GEOGRAPHIC MARKET .. 70 DEFINING THE RELEVANT GEOGRAPHIC MARKET IN THE INFORMATION ECONOMY ................ 72

DATAREQUIREMENTS...................................................................................................... 74 5.1 5.2 5.3 5.4 SHIPMENT AND PRICE DATA................................................................................................ 74 BORDER EFFECTS ............................................................................................................... 75 COMPETITORSINFORMATION.............................................................................................. 76 PATENT INFORMATION ....................................................................................................... 78

6

CASE-STUDY: VOLVO–SCANIA........................................................................................ 80 6.1 6.2 VOLVO-SCANIA: COMMISSION DECISION...
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