Abstract
This article integrates several basic theoretical ideas on the nature of markets and product substitutability to develop an empirical method for defining markets using price data. The method is illustrated by an example of product market definition for a specific geographic area.
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Elliehausen, G.E., Wolken, J.D. Market definition and product segmentation for household credit. Journal of Financial Services Research 4, 21–35 (1990). https://doi.org/10.1007/BF00365551
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DOI: https://doi.org/10.1007/BF00365551