The Nature of Markets

David Asch and Brian Wolfe

Chapter 3 in New Economy — New Competition, 2001, pp 41-61 from Palgrave Macmillan

Abstract: Abstract In this chapter we will address the central issue of how markets work and what influences the nature of competition across the whole value chain of a product or service. The chapter starts by introducing a framework which helps us to understand the nature of competition, and to identify the key determinants of the nature of competition in a market or industry. Following this we identify factors or influences which shape the way in which a market develops. We also consider the different stages of development of the industry. We conclude the chapter by looking at an example and flagging some key issues for consideration in subsequent chapters.

Keywords: Bargaining Power; Switching Cost; Retail Outlet; Food Retailer; Competitive Behaviour (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50800-2_3

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DOI: 10.1057/9780230508002_3

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