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Our Curious Amalgam
#319 Can We Define Overlapping Markets? Understanding the Legal and Economic Arguments
Mar 31, 2025
In this engaging discussion, Keith Klovers, Counsel at Latham & Watkins LLP and a former advisor to FTC commissioners, delves into the controversial concept of overlapping markets in antitrust law. He argues that these ideas lack solid judicial support, proposing alternative approaches for better market definition. The conversation touches on historical cases, the complexities of two-sided markets, and the implications for competition assessments. Amidst the serious analysis, Keith also shares quirky personal insights, blending humor with expert knowledge.
38:21
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Quick takeaways
- The concept of overlapping markets in antitrust law lacks solid economic foundation, complicating legal judgments and market definitions.
- Adopting a one market per transaction principle could enhance clarity in antitrust analysis and improve consistency in legal applications.
Deep dives
The Relevance of Overlapping Markets in Antitrust Law
The concept of overlapping markets has garnered significant attention in antitrust law due to its implications for defining competition and market power. Overlapping markets, also known as sub-markets, lack a solid economic foundation, prompting experts to argue against their use in legal judgments. Recent trends show an increasing inclination to define both narrow and broad markets simultaneously, complicating traditional antitrust analysis. This duality can blur the clarity needed for effective antitrust enforcement, altering the legal landscape and raising concerns regarding the validity of market definitions.
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