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Project Investigator: Christos Genakos
Abstract
Abstract
Fixed book price (FBP) agreements are a form of resale price maintenance applied to books in various countries. FBP restricts retail price competition with the aim of promoting book variety. Despite their widespread use, there is limited empirical evidence on their effects. We offer systematic evidence on the impact of FBP using a comprehensive dataset covering the entire market for books in Italy, before and after the introduction of FBP. We find that FBP raises prices without significantly affecting the number of new titles published. However, it expands the variety of books actually bought, especially from independent bookstores.
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