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Consumer choice and competition policy: A study of UK energy markets
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UNSPECIFIED (2005) Consumer choice and competition policy: A study of UK energy markets. ECONOMIC JOURNAL, 115 (506). pp. 949-968. ISSN 0013-0133.
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Abstract
Consumer choice is increasingly recognised as a crucial factor in competition policy. To illustrate the implications of such choice we present an investment model of the switching choice in the UK residential natural gas market and examine responses to a specially commissioned survey of nearly seven hundred consumers, identifying search and switching costs. Through an assessment of the savings which consumers say they require to switch supplier, together with an evaluation of consumer switching behaviour, we deduce that the incumbent retained considerable market power, suggesting that some continued regulation may be necessary.
Item Type: | Journal Article | ||||
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Subjects: | H Social Sciences > HC Economic History and Conditions | ||||
Journal or Publication Title: | ECONOMIC JOURNAL | ||||
Publisher: | BLACKWELL PUBLISHING | ||||
ISSN: | 0013-0133 | ||||
Official Date: | October 2005 | ||||
Dates: |
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Volume: | 115 | ||||
Number: | 506 | ||||
Number of Pages: | 20 | ||||
Page Range: | pp. 949-968 | ||||
Publication Status: | Published |
Data sourced from Thomson Reuters' Web of Knowledge
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