Information costs and information asymmetry in British food retailing

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    10 Citations (Scopus)

    Abstract

    This article examines debates over the emergence of multiple retailers' market power through the historical growth of relational contracting within British food retailing. The article documents the changing pattern of relational contracting. Contracting is suggested to adapt to changes in the importance of branded goods, own-label goods and asset specific investment in retailing outlets and logistics. In conclusion the article challenges the neo-classical view that markets are characterised by discrete classical contracting in favour of a view which emphasises firms' risk minimising strategy based upon relational contracting and market power.

    Original languageEnglish
    Pages (from-to)175-186
    Number of pages12
    JournalService Industries Journal
    Volume19
    Issue number3
    DOIs
    Publication statusPublished - 1999

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