By Saloni Sinha ( May 25, 2026, 09:05 GMT | Insight) -- Economic experts appearing in an antitrust trial in an Australian court on Monday clashed over whether evidence of Mastercard’s market power could itself be used to define the relevant markets in which it operates. In a Federal Court hearing, while Mastercard’s expert witness Jason Ockerby defended a structured approach centered on formal market definition and the hypothetical monopolist test, economist Alan Frankel, called by the antitrust regulator, argued that real-world indicators, including pricing behavior and commercial outcomes, could demonstrate market power.Economic experts appearing in an antitrust trial in an Australian court on Monday clashed over whether evidence of Mastercard’s market power could itself be used to define the relevant markets in which it operates....
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