Symeonidis, George (1997) Cartel policy, non-price competition and market structure: theory and evidence from the UK. EI, 19. Suntory and Toyota International Centres for Economics and Related Disciplines, London School of Economics and Political Science, London, UK.Full text not available from this repository.
This paper examines the impact of price competition on advertising/R&D expenditure and market structure. General theoretical results are derived which restrict the space of possible outcomes regarding the behaviour of concentration and advertising/R&D expenditure following an intensification of price competition. The theoretical predictions are tested using UK data on the evolution of competition, concentration and advertising over 1954-1977. The econometric results suggest that the introduction of restrictive practices legislation in the UK cause a rise in concentration in previously cartelised high-advertising manufacturing industries and probably also a fall in advertising intensity.
|Item Type:||Monograph (Discussion Paper)|
|Additional Information:||© 1997 George Symeonidis|
|Uncontrolled Keywords:||Market structure; price competition; cartels; endogenous sunk costs; advertising; UK manufacturing.|
|Library of Congress subject classification:||H Social Sciences > HF Commerce
H Social Sciences > HD Industries. Land use. Labor
|Sets:||Collections > Economists Online
Research centres and groups > Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD)
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