in Journal of Competition Law & Economics
September 2013; p ublished online September 2013 .
Journal Article. Subjects: Energy and Utilities; Microeconomics; Market Structure, Firm Strategy, and Market Performance; Welfare Economics; Antitrust Issues and Policies; Law and Economics; Market Structure and Pricing; Regulation and Industrial Policy. 8112 words.
Profit margins are not reliable evidence from which to infer market power in antitrust cases. The use of accounting profit margins has no economic justification in dominance proceedings....
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