Raising Retailers’ Profits: On Vertical Practices and the Exclusion of Rivals
研究了转售价格维持、进场费等纵向行为如何让在位制造商向零售商转移利润，从而阻止零售商接纳新进入者，导致市场排斥。
Resale price maintenance (RPM), slotting fees, loyalty rebates, and other related vertical practices can allow an incumbent manufacturer to transfer profits to retailers. If these retailers were to accommodate entry, upstream competition could lead to lower industry profits and the breakdown of these profit transfers. Thus, in equilibrium, retailers can internalize the effect of accommodating entry on the incumbent’s profits. Consequently, if entry requires downstream accommodation, entry can be deterred. We discuss policy implications of this aspect of vertical contracting practices.