Smaller internal markets + state ownership of assets explains a lot of the international variance in market size. Company scale is not strictly limited by national borders so small countries always look more concentrated, much as counties are more concentrated than states, etc
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The fact that "Western Europe" is lower than all the countries in western Europe indicates to me that large regions tend to be less concentrated than small ones
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Probably because these are such broad categories. Within "tech," specific categories like online advertising are dominated by a couple firms, but doesn't look concentrated when you look at all tech companies (though wtf is the "tech" market and how do you divide shares of it)
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Thanks. I haven’t seen the article or dataset, but almost all show US ratios to have extremely low concentration around 500 in HHI. A few tweets to follow to show why this makes little sense.
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A good read with tables. Doe the US have a concentration problem. You’ll see dozens and dozens of industries with extreme concentration. http://rooseveltinstitute.org/wp-content/uploads/2018/09/The-United-States-has-a-market-concentration-problem-brief-final.pdf …pic.twitter.com/zjIDKNIHok
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If I read Bloomberg chart, for example, commnications is below 500, but FCC data puts cellular concentration at 2.700 and the US was looking at mergers that would have made it worsehttps://bits.blogs.nytimes.com/2011/09/02/why-wireless-markets-are-naturally-concentrated/ …
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Another good look at recent trends in industries where many are now extremely concentrated https://www.americanactionforum.org/research/market-concentration-grew-obama-administration/ …pic.twitter.com/ENIqOkryfR
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And medical and insurance for most Americans ranges between highly concentrated and super concentrated. (I love that word super to describe the problem) https://www.commonwealthfund.org/blog/2018/variation-healthcare-provider-and-health-insurer-market-concentration …pic.twitter.com/mZNWyR8oy4
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Here are some labor market concentration ratios by employees. Again, nothing near the levels in the Bloomberg chart https://www.bls.gov/opub/btn/volume-3/pdf/measuring-occupational-concentration-by-industry.pdf …pic.twitter.com/AcAcSz3qS3
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Here is a chart on airline concentration. It is highly concentrated.pic.twitter.com/lLA5CznN5A
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Isn’t this mostly a market size effect? If you look at US vs Western Europe market concentration looks broadly similar.
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You could find comparable US aggregates by going to regional or state levels (say California).
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the question regarding europe is the inter state competitiveness, HHI doesn't really matter in each separate state, if there are continental alternatives
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But it's worth remembering that the regulatory regimes may be very different, changing the way that capitalization interacts with consumers
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Well, looking at the US through the lens of the Herfindahl-Hirschman Index, it makes sense as there aren't many industries with an outright leader. GOOG, APPL, MSFT. Ford, GM, FCA. US Finance is ultra competitive. Ect.
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But is that comparison meaningful between economies of such different scale? Eg. more meaningful to compare US with EU economy.
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Wonder what So Korea would look like
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