Analysis of price setting behavior among shipowners, revealing impacts of market dynamics and monopoly power.
An analysis of shipowners’ behavior as members of a liner conference leads Dr. Abrahamsson to conclude that the price-setting practices of conferences result not only from rising costs and price maximization but from monopoly power and compensatory increases for “losses” incurred by selling surplus capacity below average cost in the tramp market.
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B.J. Abrahamsson (1968) studied this question.
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