IESE Research Papers
No D/517:
Market definition in the telecoms industry
Jordi Gual ()
Abstract: Market definition for antitrust purposes is by now firmly
rooted in economic analysis both in the US and the EU, even if the
approaches are slightly different. This paper examines the theoretical
basis for the legal definitions and assesses whether the general principles
need to be adapted when dealing with the telecommunications services
industry. The paper finds that the conventional antitrust methodology for
market definition can be, to a large extent, readily applied to the
telecoms industry but points out some key adjustments that have to be made
to this methodology to ensure that the antitrust and regulatory authorities
end up defining markets which capture adequately the nature of the
competitive interaction in this industry. The definition of markets should
be based on a detailed analysis of demand (both complementarities and
substitutabilities) and the consideration of all companies which have the
assets and capabilities to satisfy these consumer needs. Such an exercise
should be done first, and distinguished from the subsequent analysis of the
competitive conditions in the markets defined as relevant.
Keywords: Telecommunications; regulation; market definition; antitrus; (follow links to similar papers)
30 pages, September 2, 2003
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