The Relevant Market in Competition Law: A Legal Concept

Journal of Antitrust Enforcement, Vol. 7, 2019, pages 158-176

18 Pages Posted: 15 Feb 2019 Last revised: 23 Sep 2019

See all articles by Viktoria H.S.E. Robertson

Viktoria H.S.E. Robertson

Vienna University of Economics and Business; The Competition Law Hub

Date Written: January 30, 2019

Abstract

In competition law, the relevant market acts as a filter that delineates that part of commerce within which competition law assesses companies’ market behaviour. This contribution considers how competition law can reconcile the legal concept of the relevant market with its economic roots. It argues that for market definition – like for many an economic concept – a spectrum opens up between law and economics. On the economics side of the spectrum, economics may take on a more determinative role almost amounting to normative force. This places considerable pressure on the integrity of economics. On the law side of the spectrum, the relevant market is looked at through the prism of the law and is seen as a legal concept building upon an economic one. Here, economics is assigned an interpretive role. A plethora of different positions are possible along the spectrum, and different actors may place themselves at different locations under different circumstances or at different points in time. If it is acknowledged that the relevant market concept acquires a distinct legal conception through its incorporation into the competition laws, then this has far-reaching repercussions on our entire conception of competition law. This view effectively calls into question not only competition law’s understanding of the relevant market, but also the prevailing understanding of other shared legal and economic concepts.

Keywords: antitrust law, competition law, economic concepts, economic thought, legal concepts, legal theory, market definition, relevant market

JEL Classification: B10, K21, K4, L10, L40, L5

Suggested Citation

Robertson, Viktoria H.S.E., The Relevant Market in Competition Law: A Legal Concept (January 30, 2019). Journal of Antitrust Enforcement, Vol. 7, 2019, pages 158-176, Available at SSRN: https://ssrn.com/abstract=3325929

Viktoria H.S.E. Robertson (Contact Author)

Vienna University of Economics and Business ( email )

Welthandelsplatz 1
Vienna, Wien 1020
Austria

HOME PAGE: http://www.wu.ac.at/en/complaw/

The Competition Law Hub ( email )

Austria

HOME PAGE: http://www.complawhub.eu

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
1,986
Abstract Views
5,423
Rank
17,156
PlumX Metrics