How to work out whether a firm dominates its industry

Thesis Series #4

(Warning - this is a bit of a geek post):

I wrote yesterday that market dominance should be assessed by calculating a firm’s share of its industry profit pool.

To do this, we need two ingredients:

1) The industry, all the firms within it, and their profits, so we can calculate the profit pool and the share of profits for each.

2) A formula to calculate the …