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Information Costs and Information Asymmetry in British Food Retailing

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  • Carlo Morelli

Abstract

This article examines debates over the emergence of multiple retailers’ market power through the historical growth of relational contracting within British food retailing. The article documents the changing pattern of relational contracting. Contracting is suggested to adapt to changes in the importance of branded goods, own-label goods and asset specific investment in retailing outlets and logistics. In conclusion the article challenges the neo-classical view that markets are characterised by discrete classical contracting in favour of a view which emphasises firms’ risk minimising strategy based upon relational contracting and market power.

Suggested Citation

  • Carlo Morelli, 1999. "Information Costs and Information Asymmetry in British Food Retailing," The Service Industries Journal, Taylor & Francis Journals, vol. 19(3), pages 175-186, July.
    • Handle: RePEc:taf:servic:v:19:y:1999:i:3:p:175-186
    DOI: 10.1080/02642069900000036
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    Cited by:

    1. Carlo Morelli, 2004. "Explaining the Growth of British Multiple Retailing during the Golden Age: 1976–94," Environment and Planning A, , vol. 36(4), pages 667-684, April.
    2. Carlo Morelli, 2009. "Modern British Retailing in the Late 20th Century: Increasing Value?," Dundee Discussion Papers in Economics 227, Economic Studies, University of Dundee.
    3. Carlo Morelli, 2005. "Further reflections on the Golden Age in British multiple retailing 1976-1994: capital investment, market share and retail margins," Dundee Discussion Papers in Economics 183, Economic Studies, University of Dundee.
    4. Flores, Hector & Villalobos, J. Rene, 2013. "Using market intelligence for the opportunistic shipping of fresh produce," International Journal of Production Economics, Elsevier, vol. 142(1), pages 89-97.

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