In nine pages this model is applied to the United Kingdom's retail industry, particularly clothing retailer and supermarket segments. Twelve sources are listed in the bibliography.
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of subcategories. One of the tools we can use is the structure-conduct-performance paradigm, to understand how this operates and how it can be applied to this sector we first need
to consider this model. The idea is that the efficiently that is seen in any market will materialise as a result of any concentration levels as well as a
result of potential collusions between the firms that are in the already in the sector. The result of this is that where there is a departure from the idea of
perfect competition there will be a dead weight loss (Nellis and Parker, 2000). This is seen as making it allowable for governments to intervention to restore competition. There has
been disagreement on this with Baumol developing the contestable market theory (Baumol, 1985). Here the characteristics that apply to a perfectly contestable market, such as optimal or most efficient behaviour,
may be seen present in many different market structures. The conclusion here has to be that free competition, even where there is not perfect competition, will be a driving factor
that creates and efficient market (Baumol, 1985). The idea behind the classical approach is the common idea of equilibrium and looks at efficiency in the same terms as Pareto (Nellis
and Parker, 2000). In this idea of efficiency it is the point at which here needs to be a trade off to gain an efficiency, meaning that there are no
greater efficiency to be gained and benefit on player without another player suffering an equivalent loss (Nellis and Parker, 2000). The idea scenario for the classical approach is a large
number of buyers and seller with no barrier to entry or exit barriers (Thompson, 1998). There is also a need for perfect information, complete mobility of products and the products