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Journal of Agricultural & Food Industrial Organization

Ed. by Azzam, Azzeddine

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Quantitative Price Tests in Antitrust Market Definition with an Application to the Savory Snacks Markets

Yannis Katsoulacos
  • Corresponding author
  • Department of Economics, Athens University of Economics and Business, 76 Patission Street, Athens 10434, Greece
  • Email:
/ Ioanna Konstantakopoulou
  • Center of Planning and Economic Research (KEPE), 11 Amerikis str, Athens 10672, Greece
  • Email:
/ Eleni Metsiou
  • Department of Economics, Athens University of Economics and Business, 76 Patission Street, Athens 10434, Greece
  • Email:
/ Efthymios Tsionas
  • Department of Economics, Athens University of Economics and Business, 76 Patission Street, Athens 10434, Greece
  • Email:
Published Online: 2014-02-04 | DOI: https://doi.org/10.1515/jafio-2013-0022


In this paper, we utilize the complete set of quantitative tests at the disposal of economists for delineating antitrust markets. This includes the Small but Significant Increase in Price (SSNIP) test but also a large number of traditional and newer price co-movement tests. We apply these tests to the savory snacks market using Greek bi-monthly data. This market has been subject to many antitrust investigations because of its market structure and its important implications for consumer welfare. However, no dominant view has yet emerged regarding the appropriate definition of the relevant market. Our results indicate that a wide relevant market definition is appropriate.

Keywords: market definition; quantitative price-co-movement tests; savory snacks market

JEL Code: K21; L40; L66


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About the article

Prof. Y. Katsoulacos and E. Metsiou acknowledge support from the European Union (European Social Fund – ESF) and Greek national funds through the Operational Program “Education and Lifelong Learning” of the National Strategic Reference Framework (NSRF) – Research Funding Program: Thalis – Athens University of Economics and Business – Thalis – Athens University of Economics and Business – NEW METHODS IN THE ANALYSIS OF MARKET COMPETITION: OLIGOPOLY, NETWORKS AND REGULATION.

Published Online: 2014-02-04

Published in Print: 2014-01-01

Citation Information: Journal of Agricultural & Food Industrial Organization, ISSN (Online) 1542-0485, ISSN (Print) 2194-5896, DOI: https://doi.org/10.1515/jafio-2013-0022. Export Citation

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