International co-operation between OECD countries on anticompetitive practices affecting international trade has been in operation for more than 40 years based on a series of Council Recommendations which have been elaborated and progressively refined by the Competition Committee.
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This glossary of terms frequently used in the field of industrial organisation economics and competition law has been compiled for pedagogical and training purposes.
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Before a firm can compete in a market, it has to be able to enter it. Many markets have at least some impediments that make it more difficult for a firm to enter a market. A debate over how to define the term “barriers to entry” began decades ago, however, and it has yet to be won. Some scholars have argued, for example, that an obstacle is not an entry barrier if incumbent firms faced it when they entered the market. Others contend