Bestreitbarkeit (des Marktes)
English translation: contestability (of the market) / market contestability
| 22:03 Dec 2, 2007 |
| German to English translations [PRO] Bus/Financial - Economics / Competition theory | |||||||
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|  Selected response from: Paul Cohen Greenland Local time: 02:03 | ||||||
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| Summary of answers provided | ||||
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| 4 +3 | contestability (of the market) / market contestability |
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| 4 | Disputable nature of the market |
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| 3 | uncertainty of the market |
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Answers
23 mins confidence: 
Disputable nature of the market Explanation: Dietl Lorenz bezeichnet es zwar mit "deniability of the market". Im gegebenen Kontext haut das aber irgendwie nicht hin |
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2 hrs confidence:
uncertainty of the market Explanation: I believe this term is common -------------------------------------------------- Note added at 2 hrs (2007-12-03 00:46:27 GMT) -------------------------------------------------- One also finds: ambiguity of the market; unreliability of the market; precariousness of the market |
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4 hrs confidence: peer agreement (net): +3
peer agreement (net): +3contestability (of the market) / market contestability Explanation: I think your initial assumption is correct. Langenscheidt: bestreitbarer Markt (VW) = contestable market Here's what Wikipedia has to say about contestable markets: "In economics, a contestable market is a market in which competitive pricing can be observed, even though there may be only one firm serving the market, so that it would normally be classed as a monopoly. Its fundamental feature is low barriers to entry and exit; a perfectly contestable market would have no barriers to entry or exit. Contestable markets are characteristed by 'hit and run' entry. If a firm in a market with no entry or exit barriers raises its prices above marginal cost and begins to earn abnormal profits, potential rivals will enter the market to take advantage of these profits. When the incumbent firm(s) respond by returning prices to levels consistent with normal profits the new firms will exit. In this manner even a single-firm market can show highly competitive behaviour. The theory of contestable markets has been used to argue for weaker application of antitrust laws as simply observing a highly concentrated or monopoly market does not mean that the firm is harming consumers by earning super-normal profits. The applicability of the theory to real world situations has been questioned, however, particularly as there are very few markets which are completely free of sunk costs and entry and exit barriers. Low cost airlines are commonly referred to as an example of a contestable market. Entrants have the possibility of leasing aircraft and should be able to respond to high profits by quickly entering and exiting. In practice there may be barriers to entry and exit in the market associated with terminal leases and availability and predatory pricing by incumbents, signalled through built in overcapacity." http://en.wikipedia.org/wiki/Contestable_markets "Evidence of Changing Contestability in Commercial Airline Markets During the 1980s In recent years, rising market concentration has been cited as an indicator of deregulation-induced troubles within the U.S. commercial airline industry. In this paper, a ***contestable market*** framework is used to examine whether changes in market concentration increased airfares in 19 different destination markets at three different points in time. The empirical analyses indicate that concentration measures gained in importance in setting airfares during the 1980s suggesting that ***market contestability*** may have declined." http://www.blackwell-synergy.com/doi/abs/10.1111/j.1745-6606... |
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