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| Author: | Giulietti, M. Waddams Price, C. Waterson, M. |
| Title: | Consumer choice and competition policy: a study of UK energy markets |
| Journal: | Economic Journal
2005 : OCT, VOL. 115:506, p. 949-968 |
| Index terms: | consumer choice energy industry |
| Freeterms: | competition policy |
| Language: | eng |
| Abstract: | This article presents an investment model of the switching choise in the UK residential natural gas market to show how consumer choise is increasingly recognised as a crucial factor in competition policy. The authors examine responses to a specially commissioned survey of nearly seven hundred consumers, identifying search and switching costs. The authors deduce that the incumbent retained considerable market power suggests continued regulation may be necessary. |
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