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Market dominance is the control of a economic market by a firm. [1] A dominant firm possesses the power to affect competition [2] and influence market price. [3] A firms' dominance is a measure of the power of a brand, product, service, or firm, relative to competitive offerings, whereby a dominant firm can behave independent of their competitors or consumers, [4] and without concern for ...
An example of which was seen in 2007, when British Airways was found to have colluded with Virgin Atlantic between 2004 and 2006, increasing their surcharges per ticket from £5 to £60. [8] Regulators are able to assess the level of market power and dominance a firm has and measure competition through the use of several tools and indicators.
rational-legal authority (modern law and state, bureaucracy). These three types are ideal types and rarely appear in their pure form. According to Weber, authority (as distinct from power (German: Macht)) is power accepted as legitimate by those subjected to it. The three forms of authority are said to appear in a "hierarchical development order".
Social dominance theory (SDT) is a social psychological theory of intergroup relations that examines the caste-like features [1] of group-based social hierarchies, and how these hierarchies remain stable and perpetuate themselves. [2]
Single dominance is unlikely unless there is a fragmented market and significant other factors. [64] However, recent case law demonstrates that a finding of dominance remains possible: in Virgin/British Airways a market share of 39.7% amounted to dominance. [65] 20% Possibility of dominance left open. Considered with other factors [66] 10% Too ...
Anti-competitive behavior is used by business and governments to lessen competition within the markets so that monopolies and dominant firms can generate supernormal profits and deter competitors from the market. Therefore, it is heavily regulated and punishable by law in cases where it substantially affects the market.
Large capital investments required for entry, including intellectual property laws, certain network effects, [38] absolute cost advantages, [39] reputation, advertisement dominance, [40] product differentiation, [41] brand reliance, and others, all contribute to keeping existing firms in the market and precluding new firms from entering.
Rational-legal authority (also known as rational authority, legal authority, rational domination, legal domination, or bureaucratic authority) is a form of leadership in which the authority of an organization or a ruling regime is largely tied to legal rationality, legal legitimacy and bureaucracy.