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Vertical restraints and competition policy in the US and UK food marketing systems
Author(s) -
McCorriston Steve,
Sheldon Ian M.
Publication year - 1997
Publication title -
agribusiness
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.57
H-Index - 43
eISSN - 1520-6297
pISSN - 0742-4477
DOI - 10.1002/(sici)1520-6297(199703/04)13:2<237::aid-agr11>3.0.co;2-4
Subject(s) - vertical restraints , ambiguity , competition (biology) , economics , vertical integration , horizontal and vertical , public economics , marketing , positive economics , industrial organization , business , microeconomics , computer science , ecology , incentive , biology , programming language , geodesy , geography
A review of the vertical restraints literature shows that while it is rich in analysis of such restraints, theory is ambiguous about their private and social effects, and, hence, their regulation. Analysis presented in this article suggests that this ambiguity in the literature appears to be mirrored in the decisions on vertical restraints of the US courts and the UK competition authorities with regard to their respective food systems. In addition, there is an interesting contrast between the type of vertical relationships investigated by the US and the UK authorities, the latter covering a broader range of restraints. © 1997 John Wiley & Sons, Inc.