Also, looking at antitrust purely through a price lens is extremely narrow, and practically unintelligible in most big-ticket modern examples.
In the netscape-msft case, prices didn't even exist. They don't exist or aren't central in a whole lot of modern businesses. How do you analyze FB in terms of the CWS model? It's like trying to examine the health of a rose bush by taking its temperature.
It's a pretty good example of intellectual failure in economics, compounded by legislative/industry agendas. Defining reality using a model rather than the other way around. The model is good at measuring market power of something like a centralized buyer of agricultural commodities. The more unlike an agricultural cartel the industry, the lower the "evidence" for monopoly.
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Also, looking at antitrust purely through a price lens is extremely narrow, and practically unintelligible in most big-ticket modern examples.
In the netscape-msft case, prices didn't even exist. They don't exist or aren't central in a whole lot of modern businesses. How do you analyze FB in terms of the CWS model? It's like trying to examine the health of a rose bush by taking its temperature.
It's a pretty good example of intellectual failure in economics, compounded by legislative/industry agendas. Defining reality using a model rather than the other way around. The model is good at measuring market power of something like a centralized buyer of agricultural commodities. The more unlike an agricultural cartel the industry, the lower the "evidence" for monopoly.