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Cartel policy, non-price competition and market structure: theory and evidence from the UK

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.

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Identification Number: 19

Abstract

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)
Official URL: http://sticerd.lse.ac.uk
Additional Information: © 1997 George Symeonidis
Subjects: 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)
Date Deposited: 09 Jul 2008 08:42
Last Modified: 01 Oct 2010 08:58
URI: http://eprints.lse.ac.uk/id/eprint/6758

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