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Identifying and characterising price leadership in British supermarkets

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Seaton, Jonathan S. and Waterson, Michael (2013) Identifying and characterising price leadership in British supermarkets. International Journal of Industrial Organization, Volume 31 (Number 5). pp. 392-403. doi:10.1016/j.ijindorg.2013.07.002

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Official URL: http://dx.doi.org/10.1016/j.ijindorg.2013.07.002

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Abstract

Price leadership is a concept that lacks precision. We propose a deliberately narrow, falsifiable, definition then develop it, illustrate its feasibility and test it using the two leading British supermarket chains. We find both firms engaging in leading prices upward over a range of products, with the larger being initially more dominant but the smaller increasing leadership activity to take overall leadership over time. However, more price leadership events are price reductions than price increases, consistently led by the smaller firm. Nevertheless, the increases are of larger monetary amounts than the falls, so average basket price increases over time.

Item Type: Journal Article
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HF Commerce
Divisions: Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH): Prices -- Great Britain, Pricing -- Great Britain, Supermarkets -- Great Britain, Grocery trade -- Great Britain, Leadership -- Great Britain
Journal or Publication Title: International Journal of Industrial Organization
Publisher: Elsevier Science BV
ISSN: 0167-7187
Official Date: September 2013
Dates:
DateEvent
September 2013Published
Volume: Volume 31
Number: Number 5
Page Range: pp. 392-403
DOI: 10.1016/j.ijindorg.2013.07.002
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Open Access
Funder: Economic and Social Research Council (Great Britain) (ESRC)
Grant number: RES-062-23-1962

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