90 Colum. L. Rev. 1805 (1990)
Issue 7

handle is hein.journals/clr90 and id is 1819 raw text is: COLUMBIA LAW REVIEW
VOL. 90                  NOVEMBER 1990                         NO. 7
NEW DEFINITIONS OF RELEVANT MARKET AND THE
ASSAULT ON ANTITRUST
Robert Pitofsky*
TABLE OF CoNTENTs
Introduction  .................................................. 1806
I. Pre-Guidelines Approach ................................. 1810
A. Conventional Approach and Its Defects ............... 1810
B. Market Definition in the Supreme Court: Cellophane,
Brown Shoe, and Grinnel .............................. 1813
C. Lower Courts' Responses to Relevant Market
Questions  ........................................... 1817
1. Cellophane Cross-Elasticity Test .................... 1817
2. Supply Substitution ............................... 1818
3.  Profits  ........................................... 1818
4. All-or-Nothing Proposition ........................ 1818
II. Guidelines Approach and Some Related Case
Developments ............................................ 1818
A. Summary of the Guidelines Approach ................ 1818
1. Market Definition ................................. 1818
2. Thresholds of Legality Under the Guidelines ...... 1821
B. Some Reservations Concerning the Market Definition
Process Under the Guidelines ........................ 1822
1. Historical Data Versus Hypothetical Possibilities ... 1823
2. Market Redefinition Versus Market Adjustment .... 1823
3.  Profits  ........................................... 1823
4. Five Percent Test ................................. 1824
5. Cluster Markets .................................. 1824
C. Case Law and Enforcement Decisions Under the
Guidelines ........................................... 1824
1. United States v. Waste Management, Inc ............... 1824
2. In re Echlin Manufacturing Co ....................... 1825
3. United States v. Calmar, Inc ......................... 1826
4. Laidlaw Acquisition Corp. v. Mayflower Group, Inc. .... 1827
5. Consolidated Gold Fields, PLC v. Anglo American Corp. . 1828
6. United States v. Syufy Enterprises ..................... 1828
D. Evaluation of Recent Enforcement Decisions and Case
Developments   ....................................... 1830
* Professor of Law, Georgetown University Law Center. This Article benefited
greatly from comments by Harvey Goldschmid, Thomas Krattenmaker, Steven Salop,
Michael Sohn, Donald Turner, and Lawrence White.

1805

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