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American Law and Economics Review V6 N2 2004 (441-464)
American Law and Economics Review Vol. 6 No. 2, © American Law and Economics Association 2004; all rights reserved.

Using Stationarity Tests in Antitrust Market Definition

Mario Forni

Università di Modena and Centre for Economic Policy Research

Send correspondence to: Mario Forni, Dipartimento di Economia Politica, Università di Modena, Viale Berengario 51, I-41100 Modena, Italy; Fax: 39-059-2056947; E-mail: forni.mario{at}unimo.

In this article it is argued that, if two products or geographic areas belong in the same market, their relative price must be stationary. Hence stationarity tests like the Augmented Dickey-Fuller and the KPSS can be helpful in delineating the relevant market for antitrust purposes, particularly for abuses of dominant positions and agreements between competitors. The proposed procedure is strictly related to cointegration analysis but is simpler and has more general validity. An application to the Italian milk market illustrates the technique.


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Home page
 Journal of Competition Law and EconomicsHome page
P. J. Coe and D. Krause
AN ANALYSIS OF PRICE-BASED TESTS OF ANTITRUST MARKET DELINEATION
Journal of Competition Law and Economics, December 1, 2008; 4(4): 983 - 1007.
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