反垄断中的经济证据：定义和测量市场的市场势力外文翻译.docVIP

外文翻译 原文 Economic Evidence in Antitrust: Defining Markets and Measuring Market Power Material Source:Library Author: Jonathan B. Baker Timothy F. Bresnahan Identifying and Measuring Market Power. Market power–the ability of firms to raise price above the competitive level for a sustained period–is a part of the legal framework in multiple antitrust contexts. Monopoly power is an element of the monopolization offense under Sherman Act §2. In addition,market power is often frequently assessed under Sherman Act §1,to determine whether conduct undertaken pursuant to an agreement was reasonable. The market power inquiry may apply to a firm individually or to a number of firms as a group.Historically,in the antitrust world,market power has most commonly been identified through inference from a high market share.But direct evidence has increasingly become important as analternative,in part because academic economists have developed a number of econometric approaches for measuring market power. It is worth emphasizing that the ultimate economic question in antitrust litigation is almost never whether a firm or set of firms have market power.The case almost invariably concerns an economic objection to the challenged conduct–an agreement among rivals,amerger,exclusionary tactics and the like–that turns on whether the conduct has increased(in a retrospective case)or is likely to increase(in a prospective case)market power.Accordingly,the economic question is not the level of market power but the change.Antitrust law at times relies upon presumptions that if the level of market power is high,various types of conduct will increase it,and if the level of market power is low,they will not.That is,in legal terms,anticompetitive effect is at times inferred from proof of market power.Whether or not such inferences are justified empirically,they shift attention from the ultimate economic question of whether market power has increased.Our discussion of identification when measuring mar