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Abstract

The published papers and accompanying essay which make up this doctoral thesis examine economic aspects of the competitive process in mature product industrial markets and draw implications for competition policy. The analysis of price competition relates patterns of price leadership and discount competition to features of market structure (using the UK petrol market as a case study) and examines the influence of large buyers on price determination. Policies towards buying power and price discrimination in several countries are compared and appraised. The analysis of long-run adjustment and competitive equilibrium focuses on the diversification process, analysing the industry structure determinants of the inter-industry pattern of diversification within a risk/return framework. The same risk/return optimisation provides the basis for an examination of the role of risk differentials in determining inter-firm and inter-industry differences in return on capital. Some implications are drawn for the interpretation by competition authorities of the returns earned by dominant firms.

Publication Type:	Thesis (Doctoral)
Subjects:	H Social Sciences > HG Finance
Departments:	Bayes Business School Doctoral Theses Bayes Business School > Bayes Business School Doctoral Theses

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