Unwrapping a fallacy: market definition, market power & cellophane
While the cellophane fallacy is a recurring theme in competition law fairytales, you don’t often see it in real life. But in the recent Cement Australia (Flyash) decision, cellophane was front and centre. The decision raises questions about defining markets, applying the hypothetical monopolist test and even our approach to examining misuse of market power. This month’s TSoC has philosophy, fine music and lots of cellophane-clad ideas to unwrap. Select a beverage of your choosing, kick back and enjoy.