What exactly is "monopolization defined"? This is the definition of a monopoly in India? Or where?
I know in the US a majority market share is the primary determinant of whether a company has a monopoly or not.
Does Amazon.in have a monopoly in India (we can use the definition of >50% market share for this question)? If they do, I am amazed at the progress in the last couple of years since I had read much about Amazon.in!
> I know in the US a majority market share is the primary determinant of whether a company has a monopoly or not.
I really feel this should be considered an outdated view. Software, technology, and automation has changed things, and companies can exert market and monopoly power much more easily with less market share than previously found in monopolistic practices.
If we read the Justice Department’s own documents, we find:
> The Supreme Court has defined market power as "the ability to raise prices above those that would be charged in a competitive market,"(8) and monopoly power as "the power to control prices or exclude competition."(9) The Supreme Court has held that "[m]onopoly power under § 2 requires, of course, something greater than market power under § 1."(10) Precisely where market power becomes so great as to constitute what the law deems to be monopoly power is largely a matter of degree rather than one of kind. Clearly, however, monopoly power requires, at a minimum, a substantial degree of market power.(11)… antitrust law does not regard as illegal the mere possession of monopoly power where it is the product of superior skill, foresight, or industry.(14) Where monopoly power is acquired or maintained through anticompetitive conduct, however, antitrust law properly objects.
> Monopoly power is conventionally demonstrated by showing that both (1) the firm has (or in the case of attempted monopolization, has a dangerous probability of attaining) a high share of a relevant market and (2) there are entry barriers--perhaps ones created by the firm's conduct itself--that permit the firm to exercise substantial market power for an appreciable period.(16) Unless these conditions are met, defendant is unlikely to have either the incentive or ability to exclude competition.(17)
If we follow these definitions and discussions, it’s clear firms like Amazon and Apple have incredibly substantial market and monopoly power. To me, the fact that they may not have even majority market share in certain markets is inconsequential. If one keeps reading the linked Justice Department document, there’s discussions about percentages of market shares that the courts have typically gone off of. These are seemingly arbitrary and obviously rooted in businesses of a different type. Through technology and scale, firms like Amazon and Apple are among the richest and most powerful corporations ever, despite not necessarily having high percentages of market share in the relevant market, but they absolutely meet the definitions above. So these percentage of market share ideas are outdated and need revamped, in my opinion.
I know in the US a majority market share is the primary determinant of whether a company has a monopoly or not.
Does Amazon.in have a monopoly in India (we can use the definition of >50% market share for this question)? If they do, I am amazed at the progress in the last couple of years since I had read much about Amazon.in!