Competition and pricing in intermediary markets
The study examines the efficiency and price formation of consumer goods markets from the perspective of the retail trade sector.
Research on retail trade has been less extensive than research on industry, which is due to the sector’s intermediary role, the complexity of its markets, and the vagueness of its “product.” Retail companies do not merely distribute goods but also information and transaction services, which means that the products sold by different companies are not necessarily comparable with one another. Price differences may therefore reflect differences in service levels rather than market inefficiency.
The final price of consumer goods is determined as the result of a multi-stage process, influenced both by the vertical structure of the distribution chain and by horizontal competition within each stage.
The study is a preliminary study, the aim of which is to analyse, on the basis of industrial economics theory, the factors affecting market efficiency and to derive hypotheses about the relationship between market structure and price levels for subsequent empirical testing. (AI translation)
- ISSN: 0358-5980
- ISBN: 951-9282-65-1
