On defining geographic markets

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Abstract
A number of different approaches for empirically defining a geograhic market are explored in this paper. It is demonstrated that the rest proposed by Horowitz, and even a generalization of it,provide conflicting and inconsistent results. Correlation analysis, while appealing in its simplicity, has the potential for providing misleading results. Finally, the notion of causality as applied here, seems to be a promising approach to the issue.