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Price Competition, Innovation and Profitability: Theory and UK Evidence

Symeonidis, George Price Competition, Innovation and Profitability: Theory and UK Evidence. [["eprint_typename_scholarly-edition" not defined]]

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Abstract

This Paper examines the effect of price competition on innovation, market structure and profitability in R&D-intensive industries. The theoretical predictions are tested using UK data on the evolution of competition, concentration, innovation counts and profitability over 1952-77. The econometric results suggest that the introduction of restrictive practices legislation in the UK had no significant effect on the number of innovations commercialized in previously cartelized R&D-intensive manufacturing industries, while it caused a significant rise in concentration in these industries. In the short run profitability decreased, but in the long run it was restored through the rise in concentration.

Item Type: ["eprint_typename_scholarly-edition" not defined]
Uncontrolled Keywords: L11; L13; O31; Cartels; Innovation; Manufacturing; Market Structure; Price Competition; Profitability; UK
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Economics, Department of
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 16 Aug 2012 10:28
Last Modified: 15 Jan 2022 00:40
URI: http://repository.essex.ac.uk/id/eprint/3695

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