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The Market Definition Paradigm
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Book Synopsis The Market Definition Paradigm by : Niklas Alexander Hunter
Download or read book The Market Definition Paradigm written by Niklas Alexander Hunter and published by ProQuest. This book was released on 2008 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: The market definition exercise, in its entirety, is a search to identify all the substitute products that constrain the ability of a firm to exercise market power and raise price. Many antitrust decisions, particularly those involving mergers, hinge on where the market boundaries are drawn. The current market definition protocol includes delineating rigid boundaries through one of a variety of methods based on the Department of Justice Merger Guidelines. The data available to conduct the Guidelines' SSNIP test is often limited to a qualitative variety; typically the testimony of market participants. The courts, however, have not placed significant weight on this type of evidence. Consequently, alternative methods are needed to evaluate the extent of the market where the SSNIP test is not feasible. I contend that tests based on the law of one price should be used as an initial inquiry into the market definition exercise. These price tests are not sufficient to delineate rigid market boundaries. They do, however, effectively indicate when two products (or geographic areas) are not close substitutes, and thus do not compete in the same relevant market. Therefore, if the law of one price fails, then measuring rigid boundaries according to the current market definition protocol is often unnecessary.
Download or read book Market Definition written by Louis Kaplow and published by . This book was released on 2014 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent articles, I have advanced a number of criticisms of the market definition/redefinition paradigm, chief among them that market definition is impossible and counterproductive. First, there is no valid way to infer market power from market shares in redefined (non-homogeneous-goods) markets. Second, one cannot choose which market definition is superior without already having in hand one's best estimate of market power, rendering the exercise pointless. Worse, market power inferences in the chosen market are inferior to the best estimate with which one began. After elaborating these points, this Essay applies them to the three main settings in which the hypothetical monopolist test is employed in various jurisdictions' merger guidelines, showing this test to be counterproductive in every instance. Finally, it addresses reasons that some are nevertheless reluctant to abandon market definition altogether.
Book Synopsis Market Definition by : Jonathan B. Baker
Download or read book Market Definition written by Jonathan B. Baker and published by . This book was released on 2013 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This essay surveys important issues in antitrust market definition. It identifies settings in which market definition is useful, and evaluates methods of defining markets. It considers whether markets should be defined with respect to demand substitution only or whether supply substitution also should count. It addresses practical issues in defining markets, including the probative value of various types of evidence, how much buyer substitution is too much, application of the market definition algorithm of the Horizontal Merger Guidelines, the Cellophane fallacy, and the advantages and disadvantages of defining submarkets. It also evaluates several controversial approaches to market definition, including price correlations, shipment flows, critical loss analysis, and cluster markets.
Book Synopsis Market Definition Alchemy by : Louis Kaplow
Download or read book Market Definition Alchemy written by Louis Kaplow and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a recent series of articles, I argue that the market definition/market share paradigm should be abandoned entirely. Among my central claims are that: (1) as a matter of economic logic, there exists no valid way to infer market power from the market shares in redefined (non-homogeneous-goods) markets -- short of entirely reversing the market redefinition; and (2) choosing a best market requires already having in hand one's best estimate of market power, rendering the exercise pointless -- actually worse, since the market power inference from the chosen market is inferior to the estimate with which one began. Not surprisingly, criticisms advanced in this Symposium and elsewhere do not succeed in repealing the laws of logic, any more than medieval alchemists were able to overturn the laws of nature.
Download or read book Wanted written by Lawrence J. White and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Brand Intimacy written by Mario Natarelli and published by Hatherleigh Press. This book was released on 2017-10-23 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Patagonia to Apple, Whole Foods to New Balance, we love our favorite products--and, by extension, the companies that provide them. The emotional connections we form with our beloved brands and services are important relationships--relationships that are potentially worth billions. In the fast-paced, constantly-changing world of the modern marketplace, brands must adapt or perish—strategies, methods, and techniques must evolve to remain effective and relevant. Are you using yesterday’s thinking for tomorrow’s challenges? Brand Intimacy details ways to build better marketing through the cultivation of emotional connections between brand and consumer. The book provides lessons for marketers and business leaders alike who are seeking to understand these ultimate brand relationships and the opportunities they represent. Divided into three sections, Brand Intimacy starts with Context and Understanding. This explains today’s marketing landscape, the effects of technology, consumer behaviors and the advancements around decision making. Through research we discovered that people form relationships with brands the same way they develop relationships with other people. This section provides guidance on how to think about complimentary concepts such as loyalty, satisfaction and brand value. We then explore and compare established approaches and methodologies and showcase why intimacy is a compelling new and enhanced opportunity to build your brand or market your business. The second section, Theory and Model reveals and dimensions the brand intimacy model and dissects it into steps to help you better factor it into your marketing approaches or frameworks. Here you will learn the core concepts and components that are essential to build bonds and the role emotion can play to help you achieve greater customer engagement. You can also review the rankings of the best brands in terms of Brand Intimacy. A summary of our annual research reveals the characteristics of best performers, the most intimate industries, and differences based on geography, age, gender and income. By examining the top intimate brands, we reveal and decode the secrets of the bonds they form with their customers. The third section is Methods & Practice, this details the economic benefits and advantages of a strategy that factors Brand Intimacy. Intimate brands are proven to outperform the Fortune 500 and Standards and Poors’ index of brands. Intimate brands create more revenue and profit and last longer. Consumers are also willing to pay more for a brand they are more intimate with. Conversely, we also explore a series of brand failures and lessons learned to help you avoid common pitfalls in brand management. We articulate the steps to build a more intimate brand as well as share a glimpse on the future where software will play a more important role in brand building. The book outlines a proprietary digital platform that we use to help manage and enable intimacy through collaboration, simulators and real-time tracking of emotions. Business and marketing owners face an increasing difficult task to build brands that rise above the clutter, engage more and grow. Brand Intimacy explains how to better measure, build and manage enduring brands. Brands that are built to inspire as well as profit. Written by experienced marketers and backed by extensive research, Brand Intimacy rewrites the rulebook on how to establish and expand your marketing. The book is equal parts theory, research and practice, the result of 7 year journey and a new marketing paradigm for the modern marketer.
Book Synopsis International Encyclopedia of Unified Science by : Otto Neurath
Download or read book International Encyclopedia of Unified Science written by Otto Neurath and published by . This book was released on 1938 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Market Definition in Monopoly Cases by : Lawrence J. White
Download or read book Market Definition in Monopoly Cases written by Lawrence J. White and published by . This book was released on 2008 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: The question of market definition for monopolization cases - and thus the issue of the possession of market power by the defendant - is crucial for the outcome of these cases. However, unlike antitrust merger analysis, where the DOJ-FTC Horizontal Merger Guidelines has provided a successful paradigm for market definition, monopolization cases lack a guiding market definition paradigm. This chapter addresses this issue, shows the problems that arise when a market definition paradigm is absent, and offers some partial remedies. The best remedy, though, would be the development of a suitable market definition paradigm for these cases.
Book Synopsis Paradigms and Conventions by : Young Back Choi
Download or read book Paradigms and Conventions written by Young Back Choi and published by University of Michigan Press. This book was released on 1993 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Paradigms and Conventions presents a viable alternative to the standard neoclassical economic approach of a rational maximizing model. Young Back Choi develops the concept of convention and uses it to build our understanding of the working of the market as a social learning process. This approach offers a unique perspective on entrepreneurs and innovators by carefully analyzing the nature of decision making under uncertainty and the problem of modeling it, and then systematically exploring its behavioral implications. Paradigms and Conventions presents propositions and their corollaries logically derived from the principles that human beings must judge situations before they can act; and that when faced with an unfamiliar situation, human beings will endeavor to form a judgment of it. By putting the human mind at the center of the analysis, Professor Choi creates a surprisingly fruitful way of thinking about these issues that promises a new view of decision making. This book offers the stimulus of new ideas and the insights of a new approach that will be attractive to students and faculty in psychology, sociology, anthropology, political science, and philosophy, as well as economics.
Book Synopsis Why (Ever) Define Markets? by : Louis Kaplow
Download or read book Why (Ever) Define Markets? written by Louis Kaplow and published by . This book was released on 2014 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: The market definition/market share paradigm, under which a relevant market is defined and pertinent market shares therein examined in order to make inferences about market power, dominates competition law. This Article advances the immodest claim that the market definition process is incoherent as a matter of basic economic principles and hence should be abandoned entirely. This conclusion is based on the inability to make meaningful inferences of market power in redefined markets; the reliance on an unarticulated notion of a standard reference market, whose necessity and prior omission signal a serious gap; the impossibility of determining what market definition is best in a sensible manner without first formulating a best estimate of market power, rendering further analysis pointless and possibly leading to erroneous outcomes; and the mistaken focus on cross-elasticities of demand for particular substitutes rather than on the market elasticity of demand, which error results from the need to define markets. Although the inquiry is conceptual, brief remarks on legal doctrine suggest that creating conformity may not be unduly difficult.
Book Synopsis New Perspectives and Paradigms in Applied Economics and Business by : William C. Gartner
Download or read book New Perspectives and Paradigms in Applied Economics and Business written by William C. Gartner and published by Springer Nature. This book was released on 2023-03-20 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book features a collection of high-quality and peer-reviewed papers from the 2022 6th International Conference on Applied Economics and Business (ICAEB), which was held in Stockholm, Sweden, during August 24-26, 2022. ICAEB serves as a platform for presentation of new advances and research results in the fields of applied economics and business. Applied economics is used to improve the quality of practice in business and public policy by thinking meticulously about new ways to approach old problems. Presentations at the conference include the topical areas of development, ecological, financial, forensic, information, institutional, international, labor, managerial, mathematical, monetary, and other related economic aspects. All these topics relate to an overall theme of sustainable development from an economic perspective. The conference brings together scientists from different fields of applied economic research in order to exchange ideas and experiences leading to improved methods of economic analysis.
Book Synopsis The Structure of Scientific Revolutions by : Thomas S. Kuhn
Download or read book The Structure of Scientific Revolutions written by Thomas S. Kuhn and published by Chicago : University of Chicago Press. This book was released on 1969 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Theory and Practice of Business Intelligence in Healthcare by : Khuntia, Jiban
Download or read book Theory and Practice of Business Intelligence in Healthcare written by Khuntia, Jiban and published by IGI Global. This book was released on 2019-12-27 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business intelligence supports managers in enterprises to make informed business decisions in various levels and domains such as in healthcare. These technologies can handle large structured and unstructured data (big data) in the healthcare industry. Because of the complex nature of healthcare data and the significant impact of healthcare data analysis, it is important to understand both the theories and practices of business intelligence in healthcare. Theory and Practice of Business Intelligence in Healthcare is a collection of innovative research that introduces data mining, modeling, and analytic techniques to health and healthcare data; articulates the value of big volumes of data to health and healthcare; evaluates business intelligence tools; and explores business intelligence use and applications in healthcare. While highlighting topics including digital health, operations intelligence, and patient empowerment, this book is ideally designed for healthcare professionals, IT consultants, hospital directors, data management staff, data analysts, hospital administrators, executives, managers, academicians, students, and researchers seeking current research on the digitization of health records and health systems integration.
Author :Releshni Karan Reddy Publisher :Scientific Research Publishing, Inc. USA ISBN 13 :1649970358 Total Pages :200 pages Book Rating :4.6/5 (499 download)
Book Synopsis The Devil Is in the Details: Analysis of Substantial Market Power in Fijian Markets by : Releshni Karan Reddy
Download or read book The Devil Is in the Details: Analysis of Substantial Market Power in Fijian Markets written by Releshni Karan Reddy and published by Scientific Research Publishing, Inc. USA. This book was released on 2022-07-13 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiji, being remotely located with a small population, does not attract many players to its economy. Fewer players with large market shares coupled with high barriers to entry allow firms with substantial market power (“SMP”) to form. This research aims to explore the existence of SMP amongst selected markets and the adequacy of Fiji’s regulatory law, which is inspired by the US and EU competition regulation models. Based on the analysis of competition cases and in-depth interviews with members of the Fijian competition authority, the research examines how FCCC has dealt with the issues of testing SMP in relevant markets. Three industries were randomly selected as case studies. These were the telecommunications industry, shipping industry and the LPG industry. SMP was tested using a three-stage test. Stage One was choosing the relevant market and Stage Two was analysing the market conditions such as market shares of players and barriers to entry. Stage Three was analysing whether the player could maintain its price independently of its consumers and competitors. If Stages Two and Three was affirmative in respect of Stage One, SMP was held to exist. Legislation was closely examined to identify and verify the test of firms holding SMP. The results show existence of firms holding SMP in the chosen markets in telecommunications, shipping and LPG sectors. Competition legislation in Fiji does not limit the mere existence of SMP but punishes abuse of its SMP. The results identify the ways in which the authority seeks to adjust its competition system to the particularities of a small developing country, in terms of legislation, economy, culture and institutional framework. The existing legislation needs to be reformed to include provisions identifying tests for SMP. The study reveals inconsistencies between the formal provisions of the competition law and the manner in which it is applied and advances recommendations for improvement.
Book Synopsis New Paradigms in Financial Economics by : Kazem Falahati
Download or read book New Paradigms in Financial Economics written by Kazem Falahati and published by Routledge. This book was released on 2013 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to provide a new framework of economic analysis for understanding and predicting how the economy works in the real world. It does this by re-examining the implicit and explicit foundational assumptions, and inherent contradictions of the standard paradigm.
Book Synopsis Techno-economic Paradigms by : Wolfgang J. M. Drechsler
Download or read book Techno-economic Paradigms written by Wolfgang J. M. Drechsler and published by Anthem Press. This book was released on 2009 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Techno-Economic Paradigms' presents a series of essays discussing one of the most interesting and talked-about socio-economic theories of our times: techno-economic paradigm shifts.
Book Synopsis The Marketplace Paradigm by : Julian Young
Download or read book The Marketplace Paradigm written by Julian Young and published by CreateSpace. This book was released on 2015-08-28 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Influence. A powerful concept in today's world. Without it, there isn't much that we can accomplish. Each of us is called to influence this world in a way that improves the quality of life around us. This true call is your mandate to take the kingdom of God to the world. In his book, The Marketplace Paradigm, Julian teaches readers the laws that govern power and influence so that they can take their rightful reign in life as they pursue their life's mission and destiny.The call to destiny isn't always easy to hear. Sometimes we need help adjusting our signal in order to engage it. That calling is to impact modern culture with the values of the kingdom in order to improve the conditions of life. Our talents and gifts give us clues as to how to achieve this. Through gifts we can carve out a unique space in the marketplace and establish businesses and causes that can change the world. This is your invitation to pursue that destiny and be empowered to:* Understand God's plan for humanity* Create a kingdom plan for economic growth* Become a leader in your assigned place of influence* Lead your market and industry with excellence* Advance the kingdom through your purpose* Discover and develop your talents and strengths* Define your calling and assignment with clarity and distinction* Understand how to start or grow a kingdom businessDiscover The Marketplace Paradigm and use it to clarify your calling so that you can reign the kingdom way through power and influence.
