Description
Book SynopsisThis book investigates monopoly policy in the UK from 1973-1995 using all of the monopoly cases which the Monopolies and Mergers Commission (MMC) reported on during this period. It provides a rigorous analysis of 14 detailed case studies, and focuses specifically on those cases where the MMC sought to introduce change through price controls, termination of anti-competitive practices or divestment. It assesses how effective such measures have been in combating problems such as monopoly pricing, collusion, predatory and discriminatory pricing and different forms of vertical restraint. From the evidence, the authors discuss the strengths and weaknesses of current policy and examine the scope for reform.
This book will be of interest to students and researchers interested in competition policy, industrial organisation, the British economy and business strategy.
Trade Review'The main strength of the book is in its innovative structure and also in methodology. In addition to the arguments provided in the book the case study approach helps raising many intricate issues relating to market structure and behaviour of firms. Many of these issues have important theoretical implications and would have been lost in the maze of econometric approach. The theoretical discussions on monopoly types preceding case studies are helpful in understanding the cases. The book will be useful to the policymakers and students of market structure and market control.'Table of ContentsContents: 1. Introduction Part I: An Overview 2. Review of UK Competition Policy in General 3. MMC Investigations of Monopoly 4. Methodology and Selection of Case Studies Part II: The Case Studies 5. Monopoly Pricing and Price Leadership 6. Collusive Practices 7. Predatory Pricing 8. Vertical Restraints Part III: Conclusions 9. An Overall Assessment of the Effectiveness of Policy 10. The Case for Reform Appendix
