Download This PaperGeneralized Critical Loss for Market Definition
Potomac Law and Economics Working Paper No. 05-01
24 Pages Posted: 1 Jun 2005
Date Written: February 2005
Abstract
This paper generalizes the critical loss concept of Harris and Simons to account for a broader range of possible cost structures. Our focus on understanding the market level equilibrium for relatively homogenous goods makes it clear that the Harris and Simons procedure is appropriate in some situations. In other cases, a generalized critical loss analysis will be more appropriate. In contrast, for relatively differentiated goods, market definition analysis will require firm level modeling.
Keywords: JEL Classification: K21, L40
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