IDEAS home Printed from https://ideas.repec.org/a/pal/easeco/v37y2011i4p450-469.html
   My bibliography  Save this article

Shipwrecks on the Great Lakes and the Lake Carriers Association

Author

Listed:
  • Christopher S Decker

    (Department of Economics, University of Nebraska at Omaha, 60th and Dodge Street, Omaha, NE 68182, USA)

  • William Corcoran

    (Department of Economics, University of Nebraska at Omaha, 60th and Dodge Street, Omaha, NE 68182, USA)

  • David T Flynn

    (Department of Economics, University of North Dakota, Gamble 290 Centennial Drive, Grand Forks, ND 58202, USA)

Abstract

In this paper, we investigate the relationship between accident-related shipping losses on the Great Lakes between 1900 and 1939 and the role the Lake Carriers Association (LCA) played in limiting or preventing such losses. Moreover, we address the relative benefits of private sector effort, through the LCA, and public sector efforts to reduce shipwrecks and capital losses through National Weather Bureau stations. Overall, our results confirm existing research that National Weather Bureau stations reduce accident-related shipping losses. However, we also find that increased membership in the LCA also reduced such losses, and to a significant degree.

Suggested Citation

  • Christopher S Decker & William Corcoran & David T Flynn, 2011. "Shipwrecks on the Great Lakes and the Lake Carriers Association," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 37(4), pages 450-469.
    • Handle: RePEc:pal:easeco:v:37:y:2011:i:4:p:450-469
    as

    Download full text from publisher

    File URL: http://www.palgrave-journals.com/eej/journal/v37/n4/pdf/eej20102a.pdf
    File Function: Link to full text PDF
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: http://www.palgrave-journals.com/eej/journal/v37/n4/full/eej20102a.html
    File Function: Link to full text HTML
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Jonathan M. Karpoff, 2001. "Public versus Private Initiative in Arctic Exploration: The Effects of Incentives and Organizational Structure," Journal of Political Economy, University of Chicago Press, vol. 109(1), pages 38-78, February.
    2. Craft, Erik D, 1998. "The Value of Weather Information Services for Nineteenth-Century Great Lakes Shipping," American Economic Review, American Economic Association, vol. 88(5), pages 1059-1076, December.
    3. Fraas, Arthur G & Greer, Douglas F, 1977. "Market Structure and Price Collusion: An Empirical Analysis," Journal of Industrial Economics, Wiley Blackwell, vol. 26(1), pages 21-44, September.
    4. Timothy G. Fowler & Eirik Sørgård, 2000. "Modeling Ship Transportation Risk," Risk Analysis, John Wiley & Sons, vol. 20(2), pages 225-244, April.
    5. Posner, Richard A, 1970. "A Statistical Study of Antitrust Enforcement," Journal of Law and Economics, University of Chicago Press, vol. 13(2), pages 365-419, October.
    6. Schaede, Ulrike, 2000. "Cooperative Capitalism: Self-Regulation, Trade Associations, and the Antimonopoly Law in Japan," OUP Catalogue, Oxford University Press, number 9780198297185.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Garrod, Luke & Olczak, Matthew, 2018. "Explicit vs tacit collusion: The effects of firm numbers and asymmetries," International Journal of Industrial Organization, Elsevier, vol. 56(C), pages 1-25.
    2. Ari Hyytinen & Frode Steen & Otto Toivanen, 2019. "An Anatomy of Cartel Contracts," The Economic Journal, Royal Economic Society, vol. 129(621), pages 2155-2191.
    3. Darai, D. & Roux, C. & Schneider, F., 2019. "Mergers, Mavericks, and Tacit Collusion," Cambridge Working Papers in Economics 1984, Faculty of Economics, University of Cambridge.
    4. Stephen Davies & Oindrila De, 2013. "Ringleaders in Larger Number Asymmetric Cartels," Economic Journal, Royal Economic Society, vol. 123(11), pages 524-544, November.
    5. Kühn, Kai-Uwe, 2006. "How Market Fragmentation Can Facilitate Collusion," CEPR Discussion Papers 5948, C.E.P.R. Discussion Papers.
    6. John Thompson & David Kaserman, 2001. "After The Fall: Stock Price Movements and the Deterrent Effect of Antitrust Enforcement," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 19(3), pages 329-334, November.
    7. Margaret C. Levenstein & Valerie Y. Suslow, 2002. "What Determines Cartel Success?," UMASS Amherst Economics Working Papers 2002-01, University of Massachusetts Amherst, Department of Economics.
    8. Connor, John M., 2003. "Private International Cartels: Effectiveness, Welfare, And Anticartel Enforcement," Staff Papers 28645, Purdue University, Department of Agricultural Economics.
    9. Margaret C. Levenstein & Valerie Y. Suslow, 2011. "Breaking Up Is Hard to Do: Determinants of Cartel Duration," Journal of Law and Economics, University of Chicago Press, vol. 54(2), pages 455-492.
    10. Masten, Scott E., 1995. "Old school ties: financial aid coordination and the governance of higher education," Journal of Economic Behavior & Organization, Elsevier, vol. 28(1), pages 23-47, September.
    11. Jason E. Taylor, 2007. "Cartel Code Attributes and Cartel Performance: An Industry-Level Analysis of the National Industrial Recovery Act," Journal of Law and Economics, University of Chicago Press, vol. 50(3), pages 597-624.
    12. Roux, Catherine & Thöni, Christian, 2015. "Collusion among many firms: The disciplinary power of targeted punishment," Journal of Economic Behavior & Organization, Elsevier, vol. 116(C), pages 83-93.
    13. Magnus Söderberg, 2008. "Uncertainty and regulatory outcome in the Swedish electricity distribution sector," European Journal of Law and Economics, Springer, vol. 25(1), pages 79-94, February.
    14. Patrice Bougette & Stéphane Turolla, 2006. "Merger Remedies at the European Commission: A Multinomial Logit Analysis," Post-Print halshs-00466603, HAL.
    15. Bernd Frick & Anica Rose, 2017. "Over the top: Team composition and performance in Himalayan expeditions," Working Papers Dissertations 24, Paderborn University, Faculty of Business Administration and Economics.
    16. Carine Dominguez-Péry & Lakshmi Narasimha Raju Vuddaraju & Isabelle Corbett-Etchevers & Rana Tassabehji, 2021. "Reducing maritime accidents in ships by tackling human error: a bibliometric review and research agenda," Journal of Shipping and Trade, Springer, vol. 6(1), pages 1-32, December.
    17. B. Zorina Khan, 1999. "Legal Monopoly: Patents and Antitrust Litigation in U.S. Manufacturing, 1970-1998," NBER Working Papers 7068, National Bureau of Economic Research, Inc.
    18. Robert M. Feinberg, 2016. "Cartel Stability: Determinants and International Evidence," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 48(4), pages 357-359, June.
    19. Ronald W. Cotterill, 1998. "Estimation of Cost Pass Through to Michigan Consumers in the ADM Price Fixing Case," Food Marketing Policy Center Research Reports 039, University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy.
    20. Svetlana Avdasheva & Dina Tsytsulina & Svetlana Golovanova & Yelena Sidorova, 2015. "Discovering the Miracle of Large Numbers of Antitrust Investigations in Russia: The Role of Competition Authority Incentives," HSE Working papers WP BRP 26/PA/2015, National Research University Higher School of Economics.

    More about this item

    JEL classification:

    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • N82 - Economic History - - Micro-Business History - - - U.S.; Canada: 1913-
    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics
    • N62 - Economic History - - Manufacturing and Construction - - - U.S.; Canada: 1913-

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:easeco:v:37:y:2011:i:4:p:450-469. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.