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Price Competition, Non-price Competition and the Market Structure: Theory and Evidence from the UK

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  • Symeonidis, George

Abstract

This paper examines the impact of price competition on advertising/R&D expenditure and market structure. A general theoretical result is derived, which restricts the space of possible outcomes regarding the behaviour of concentration and advertising/R&D expenditure following an intensification of price competition. The theory is tested using UK data on the evolution of competition, concentration and advertising over 1954-77. The econometric results suggest that the introduction of restrictive practices legislation in the UK caused a rise in concentration in previously cartelized high-advertising manufacturing industries and probably also a fall in advertising intensity. Copyright 2000 by The London School of Economics and Political Science

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Bibliographic Info

Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 67 (2000)
Issue (Month): 267 (August)
Pages: 437-56

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Handle: RePEc:bla:econom:v:67:y:2000:i:267:p:437-56

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Cited by:
  1. Tabacco, Giovanni Alberto, 2013. "A new way to assess banking competition," Economics Letters, Elsevier, vol. 121(2), pages 167-169.
  2. George Symeonidis, 2001. "Price Competition, Innovation and Profitability: Theory and UK Evidence," Economics Discussion Papers 530, University of Essex, Department of Economics.
  3. Symeonidis, George, 1999. "Price Competition and Market Structure: The Impact of Cartel Policy on Concentration in the UK," CEPR Discussion Papers 2308, C.E.P.R. Discussion Papers.
  4. Kevin Amess & Barbara Roberts, 2005. "The impact of foreign and state ownership on post-transition industrial concentration: the case of Polish manufacturing," Economic Change and Restructuring, Springer, vol. 38(3), pages 211-225, December.
  5. Symeonidis, George, 1999. "In Which Industries Is Collusion More Likely?," CEPR Discussion Papers 2301, C.E.P.R. Discussion Papers.
  6. George Symeonidis, 2007. "The Effect of Competition on Wages and Productivity: Evidence from the UK," Economics Discussion Papers 626, University of Essex, Department of Economics.

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