Natural Monopoly and Railway Policy in the Nineteenth Century
Competition in the British railway system had burnt itself out by the end of the nineteenth century. Regression estimates of a cost fun ction based upon the 1865 railway returns are consistent with the ind ustry being a natural monopoly in which a number of firms were compet ing. The national railway system was not provided at the lowest cost. Analysis of two cross-national data sets implies the regulatory syst ems of other nations, which generally entailed monopolization and nat ionalization, generated lower railway capital costs than did that of the United Kingdom. Copyright 1987 by Royal Economic Society.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 39 (1987)
Issue (Month): 4 (December)
|Contact details of provider:|| Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK|
Fax: 01865 267 985
Web page: http://oep.oupjournals.org/
|Order Information:||Web: http://www.oup.co.uk/journals|
When requesting a correction, please mention this item's handle: RePEc:oup:oxecpp:v:39:y:1987:i:4:p:699-718. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.