Symeonidis, George Price Competition and Market Structure: The Impact of Restrictive Practices Legislation on Concentration in the UK (Revised version pubished in Journal of Industrial Economics, vol.48 (March 2000), pp.1-26). [["eprint_typename_scholarly-edition" not defined]]

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Abstract

This paper examines the impact of firms' conduct on market structure. It studies the evolution of concentration in UK manufacturing following the abolition of cartels using a theoretical framework based on Sutton's theory of market structure and a panel data set for four-digit industries over 1958-1977. The econometric results suggest that the intensity of price competition has a positive impact on concentration in exogenous sunk cost industries as well as in advertising-intensive and R&D-intensive industries. The concentration-market size relationship, while negative in exogenous sunk cost industries, breaks down in industries with high advertising or R&D-intensity.

Item Type:	["eprint_typename_scholarly-edition" not defined]
Uncontrolled Keywords:	Market structure; price competition; exogenous and endogenous sunk cost; cartels; UK manufacturing.
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 10:27
Last Modified:	15 Jan 2022 00:40
URI:	http://repository.essex.ac.uk/id/eprint/3706

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