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Book Prices in the UK Since the End of Resale Price Maintenance

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  • Francis Fishwick

Abstract

After the Net Book Agreement was abandoned in 1995 and struck down by the Restrictive Practices Court in 1997, retail book prices were widely expected to fall. Despite deeper and wider retail discounts, official indices show that book prices have subsequently risen more than general inflation. This apparent anomaly may be explained by an argument accepted at the 1962 Restrictive Practices Court hearing: that price competition would lead to concentration and greater buying power in bookselling and to bigger trade discounts from publishers, who would seek to maintain profits by raising list prices. Discounts by retailers would fail to compensate. Evidence provides some support for this explanation. While more research is required to confirm this analysis, it is relevant wherever there is debate about retention of resale price maintenance for books. It also supports the argument for case by case consideration of resale price maintenance, rather than condemnation on principle

Suggested Citation

  • Francis Fishwick, 2008. "Book Prices in the UK Since the End of Resale Price Maintenance," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 15(3), pages 359-377.
    • Handle: RePEc:taf:ijecbs:v:15:y:2008:i:3:p:359-377
    DOI: 10.1080/13571510802465120
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    References listed on IDEAS

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    1. Schulz, Norbert, 2004. "Resale Price Maintenance and the Service Argument (in the Book Trade)," W.E.P. - Würzburg Economic Papers 53, University of Würzburg, Department of Economics.
    2. Cuthbertson, Bron & Marks, Nicki, 2008. "Beyond Credence: Emerging Consumer Trends in International Market," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 5980, Australian Agricultural and Resource Economics Society.
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    Cited by:

    1. Alexandra Kontolaimou & Pródromos-Ioánnis Prodromídis & Ioanna Konstantakopoulou, 2019. "The issue of fixed book pricing: Evidence based on the Greek experience," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 13(2), pages 102-120, December.
    2. Maximilian Maurice Gail & Phil-Adrian Klotz, 2021. "The Impact of the Agency Model on E-book Prices: Evidence from the UK," MAGKS Papers on Economics 202111, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    3. Georg Goetz & Daniel Herold & Phil-Adrian Klotz & Jan Thomas Schaefer, 2020. "The Substitutability between Brick-and-Mortar Stores and e-Commerce - The Case of Books," MAGKS Papers on Economics 202011, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    4. Emanuele Giovannetti & Laura Magazzini, 2013. "Resale Price Maintenance: An Empirical Analysis of UK Firms' Compliance," Economic Journal, Royal Economic Society, vol. 123(11), pages 582-595, November.

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