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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)

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). [UNSPECIFIED]

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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: UNSPECIFIED
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 > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 16 Aug 2012 10:27
Last Modified: 17 Aug 2017 18:08
URI: http://repository.essex.ac.uk/id/eprint/3706

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