| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26261 |
| 来源ID | Working Paper 26261 |
| Collusive Investments in Technological Compatibility: Lessons from U.S. Railroads in the Late 19th Century | |
| Daniel P. Gross | |
| 发表日期 | 2019-09-16 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the lens of a historical episode from the 19th century, when colluding railroads in the U.S. South converted 13,000 miles of railroad track to standard gauge over the course of two days in 1886, integrating the South into the national transportation network. Route-level freight traffic data reveal that the gauge change caused a large shift in market share from steamships to railroads, but did not affect total shipments or prices on these routes. Guided by these results, I develop a model of compatibility choice in a collusive market and argue that collusion may have enabled the gauge change to take place as it did, while also tempering the effects on prices and total shipments. |
| 主题 | International Economics ; Trade ; Industrial Organization ; Market Structure and Firm Performance ; Antitrust ; Industry Studies ; History ; Other History |
| URL | https://www.nber.org/papers/w26261 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/583934 |
| 推荐引用方式 GB/T 7714 | Daniel P. Gross. Collusive Investments in Technological Compatibility: Lessons from U.S. Railroads in the Late 19th Century. 2019. |
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| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26261.pdf（6159KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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