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Cartels, Spontaneous Price Discrimination and International Pharmacy Retailing

Author

Listed:
  • W. Duncan Reekie
Abstract
This paper examines the nature of pharmacy retail distribution in several different countries. Evidence in the market place supports the view that innovations in distribution technology are or could be plentiful; conversely, because of institutional rigidities bolstered by law, retail pharmacists in many countries are successfully participating in a cartel-like environment where those innovations are retarded. The outcome is often perverse. Retailers do not achieve economies of scale (a common argument in favour of cartels), while consumers do not experience the lower prices resulting from inter-firm rivalry (a common argument in favour of diffuse ownership)

Suggested Citation

  • W. Duncan Reekie, 1997. "Cartels, Spontaneous Price Discrimination and International Pharmacy Retailing," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 4(3), pages 279-285.
    • Handle: RePEc:taf:ijecbs:v:4:y:1997:i:3:p:279-285
    DOI: 10.1080/758523210
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    Citations

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    Cited by:

    1. Antonio Cabrales, 2003. "Pharmaceutical generics, vertical product differentiation and public policy," Economics Working Papers 662, Department of Economics and Business, Universitat Pompeu Fabra.
    2. Patricia Danzon;Li-Wei Chao, 2000. "Prices, Competition and Regulation in Pharmaceuticals: A Cross-National Comparison," Monograph 000462, Office of Health Economics.
    3. Danzon, Patricia M & Chao, Li-Wei, 2000. "Does Regulation Drive out Competition in Pharmaceutical Markets?," Journal of Law and Economics, University of Chicago Press, vol. 43(2), pages 311-357, October.

    More about this item

    Keywords

    Pharmaceutical industry; Retail pharmacies; Antitrust policy; Health care; JEL classifications: K21; L41; L65; I11;
    All these keywords.

    JEL classification:

    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics
    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets

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