In the intricate world of antitrust law, the definition of a relevant market stands as a cornerstone of competition analysis, yet its foundational assumptions are increasingly being questioned. This process, which identifies the boundaries of competition between firms, has traditionally relied on the model of a rational consumer. However, the growing body of knowledge in behavioral economics challenges this paradigm, a shift now formally acknowledged by regulators.
Continue reading “Mental Accounting and Market Definition in Antitrust: How Behavioral Biases Reshape Competitive Boundaries”Author: Siamak Etefagh
Siamak Etefagh is a law graduate specializing in Economic Law, currently pursuing advanced studies in Law & Economics at Utrecht University. His work focuses on the economic analysis of law, competition policy, and the intersection of legal institutions and market dynamics.