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Vertical restraints and competition policy in the US and UK food marketing systems

Author

Listed:
  • Steve McCorriston

    (University of Exeter, United Kingdom)

  • Ian M. Sheldon

    (Department of Agricultural Economics and Rural Sociology, Ohio State University, 2120 Fyffe Road, Columbus, OH 43210-1007)

Abstract

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.

Suggested Citation

  • Steve McCorriston & Ian M. Sheldon, 1997. "Vertical restraints and competition policy in the US and UK food marketing systems," Agribusiness, John Wiley & Sons, Ltd., vol. 13(2), pages 237-252.
    • Handle: RePEc:wly:agribz:v:13:y:1997:i:2:p:237-252
    DOI: 10.1002/(SICI)1520-6297(199703/04)13:2<237::AID-AGR11>3.0.CO;2-4
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    References listed on IDEAS

    as
    1. Bruce L. Gardner, 1975. "The Farm-Retail Price Spread in a Competitive Food Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(3), pages 399-409.
    2. A. M. Azzam & E. Pagoulatos, 1990. "Testing Oligopolistic And Oligopsonistic Behaviour: An Application To The Us Meat‐Packing Industry," Journal of Agricultural Economics, Wiley Blackwell, vol. 41(3), pages 362-370, September.
    3. Ian M. Sheldon, 1996. "Contracting, Imperfect Information, and the Food System," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 18(1), pages 7-19.
    4. Richard T. Rogers & Richard J. Sexton, 1994. "Assessing the Importance of Oligopsony Power in Agricultural Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(5), pages 1143-1150.
    5. Garth J. Holloway, 1991. "The Farm-Retail Price Spread in an Imperfectly Competitive Food Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(4), pages 979-989.
    6. Larry G. Hamm & Gerald Grinnell, 1983. "Evolving Relationships between Food Manufacturers and Retailers: Implications for Food System Organization and Performance," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(5), pages 1065-1072.
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    Cited by:

    1. Ian M. Sheldon, 2021. "Reflections on a Career as an Industrial Organization and International Economist," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 43(2), pages 468-499, June.
    2. Revoredo-Giha, Cesar & Nadolnyak, Denis A. & Fletcher, Stanley M., 2004. "Explaining Price Transmission Asymmetry In The Us Peanut Marketing Chain," 2004 Annual meeting, August 1-4, Denver, CO 20363, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Steve McCorriston, 2002. "Why should imperfect competition matter to agricultural economists?," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 29(3), pages 349-371, July.

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