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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
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 | ||||
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| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HF Commerce |
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| 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: |
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| 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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