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