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Error risks under antitrust law enforcement: Effects of demand and supply shocks

Author

Listed:
  • Andrey E. SHASTITKO

    (Lomonosov Moscow State University)

  • Anna I. MELESHKINA

    (The Russian Presidential Academy of National Economy and Public Administration (RANEPA))

  • Kirill V. DOZMAROV

    (Law firm ART DE LEX)

Abstract

The paper examines the approaches to antitrust market definition for a class of situations characterized by significant imbalances due to supply and demand shocks. The problem of error analysis in antitrust law results from the insufficient experience in using tools for market analysis in a state other than equilibrium. The research methodology includes market theory and new institutional economics theory, as well as the methods of economic-statistical and econometric analysis. The empirical base of the research is the situation in the market for graphite electrodes in the period from 2017. The analysis deals with competition in the graphite electrode market in the context of the prevailing law enforcement practice. The authors take into account the availability of relevant information, as well as a sharp change in market conditions. The authors analyze the dynamics of the graphite electrode market before and after supply and demand shocks and identify the effects of market imbalance. The study provides a method for analyzing the product and geographical borders of the market with the indication of “bottlenecks” that can cause law enforcement errors. The results of the study can be useful for the sectoral analysis of markets and antitrust enforcement.

Suggested Citation

  • Andrey E. SHASTITKO & Anna I. MELESHKINA & Kirill V. DOZMAROV, 2019. "Error risks under antitrust law enforcement: Effects of demand and supply shocks," Upravlenets, Ural State University of Economics, vol. 10(3), pages 2-3, July.
    • Handle: RePEc:url:upravl:v:10:y:2019:i:3:p:2-13
    DOI: 10.29141/2218-5003-2019-10-3-1
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    References listed on IDEAS

    as
    1. Boland, Lawrence A., 2017. "Equilibrium Models in Economics," OUP Catalogue, Oxford University Press, number 9780190274337.
    2. Lawrence J. White, 2012. "Market Power: How Does it Arise? How is it Measured?," Working Papers 12-06, New York University, Leonard N. Stern School of Business, Department of Economics.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    antitrust law; product market boundaries; geographic market boundaries; exogenous shock; graphite electrode.;
    All these keywords.

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • L4 - Industrial Organization - - Antitrust Issues and Policies

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