Markedsmagt: En detaljeret oversigt

Empirical structure-conduct-performance studies have not determined which system of beliefs about market power prevails: They have not shown that concentration entails market power — it could be that efficient firms grow large leading to concentration. I discuss important problems of SCP studies and how to remedy them. Possible checks on market power arising from potential competition are discussed and it is argued that dynamic entry provides the best description. The conviction that concentration entails market power penetrates EU and Danish competition policy. Competition policy should first aim at publicly created barriers to entry and be more humble towards the private sector.