市场力量外文翻译.docVIP

本科毕业论文外文翻译 外文题目： Abuse below the threshold of dominance? Market power,market dominance,and abuse of economic dependence 作 者： pranvera k?llezi 原文 Market power 1 Economic definition of market power Market power is the key issue in industrial economics and competition law. In particular, antitrust law is used to minimise the social cost of the exercise of market power. The competition authorities are concerned with the situation where one or more undertakings have the power to influence price and output, as well as other parameters of competition such as the level of innovation. The Commission defines market power as “the power to influence market prices, output, innovation, the variety or quality of goods and services, or other parameters of competition on the market for a significant period of time.” The modern industrial organisation emphasizes the importance of strategic behaviour that aims at sustaining monopoly profits. This is also known as the power to exclude exiting or potential competitors in the long run. Market power is defined by using two benchmarks: the marginal cost, or the level of price in a competitive market, and the monopoly price. As a matter of fact, the whole theory of industrial organisation is constructed around two market structures: competition and monopoly. Contrasting both situations usually illustrates the superiority of one outcome over the other in terms of social welfare. In the state of perfect competition no firm has market power, or the power to determine price. The market price equals the marginal cost. A firm with market power has the ability to profitably raise the price above marginal cost. The benchmark of perfect competition, or the reference to the short-run marginal cost, is usually used to determine a firm’s market power. According to this approach, an undertaking possesses market power even though it has the ability to impose only small increases in price. Since large fixed costs canno