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Competition and Contestability in the UK Package Tour Industry: Some Econometric Observations

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  • Brian Davies
  • Paul Downward

Abstract

This paper explores competition and contestability in the UK package tour industry. Using econometric analysis of a panel-data set evidence is presented that rules out the market power/efficiency hypothesis. In keeping with Evans and Stabler (1995), there is evidence that the industry is segmented according to the size of the firms. In contrast with Gratton and Richards (1997), the results suggest that it is difficult to support the contestability hypothesis in the industry overall. Future research needs to offer less generalized conclusions in characterizing the industry.

Suggested Citation

  • Brian Davies & Paul Downward, 1998. "Competition and Contestability in the UK Package Tour Industry: Some Econometric Observations," Tourism Economics, , vol. 4(3), pages 241-251, September.
    • Handle: RePEc:sae:toueco:v:4:y:1998:i:3:p:241-251
    DOI: 10.1177/135481669800400303
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    Cited by:

    1. Sigbjørn Tveteraas & Frank Asche & Kristin Lien, 2014. "European Tour Operators' Market Power When Renting Hotel Rooms in Northern Norway," Tourism Economics, , vol. 20(3), pages 579-594, June.
    2. Guido Candela & Roberto Cellini, 2006. "Investment in Tourism Market: A Dynamic Model of Differentiated Oligopoly," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 35(1), pages 41-58, September.
    3. Eugeni Aguiló & Joaquín Alegre & Maria Sard, 2003. "Examining the Market Structure of the German and UK Tour Operating Industries through an Analysis of Package Holiday Prices," Tourism Economics, , vol. 9(3), pages 255-278, September.

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