UNSPECIFIED (1997) Countervailing power and consumer prices. ECONOMIC JOURNAL, 107 (441). pp. 418-430. ISSN 0013-0133

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Abstract

This paper considers the importance of countervailing power, manifested as the effects of increased retail concentration on consumer prices and welfare within a market setting where imperfectly competitive retailers negotiate intermediate prices with a monopoly supplier. Only when retailer services are regarded as very dose substitutes do final prices fall Following a reduction in the number of retailers. Even in there circumstances, the social benefits of countervailing power may not be realised as the supplier may seek to protect its profits by using a refusal to supply restraint to engage in exclusive trading.

Item Type:	Journal Article
Subjects:	H Social Sciences > HC Economic History and Conditions
Journal or Publication Title:	ECONOMIC JOURNAL
Publisher:	BLACKWELL PUBL LTD
ISSN:	0013-0133
Date:	March 1997
Volume:	107
Number:	441
Number of Pages:	13
Page Range:	pp. 418-430
Publication Status:	Published
URI:	http://wrap.warwick.ac.uk/id/eprint/17911

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