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The Organizational Evolution of Markets for Wood Products in the Southern United States

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  • Dunn, Michael A.
  • Barnes, James N.

Abstract

This paper represents the first case study attempt to develop a transaction cost conceptual model to describe industry evolution of the paper and lumber industries in the Southern United States around the late 1800s and early 1900s. We use transaction cost theory to explain the co-evolution of markets for wood products noting that variation in the level and type of investments made in physical and human capital assets needed to manage paper and lumber miller operations had a significant influence on the use of wood dealer systems compared to more vertically organized business arrangements. We identify some testable hypotheses and areas of future research.

Suggested Citation

  • Dunn, Michael A. & Barnes, James N., 2008. "The Organizational Evolution of Markets for Wood Products in the Southern United States," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6746, Southern Agricultural Economics Association.
  • Handle: RePEc:ags:saeaed:6746
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    File URL: http://purl.umn.edu/6746
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    References listed on IDEAS

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    1. Fishback, Price V, 1992. "The Economics of Company Housing: Historical Perspectives from the Coal Fields," Journal of Law, Economics, and Organization, Oxford University Press, vol. 8(2), pages 346-365, April.
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    More about this item

    Keywords

    Industry Evolution; Contracting; Property Rights; Vertical Integration; Forest Products; Industrial Organization; Research Methods/ Statistical Methods; L14; L24; L73; J24;

    JEL classification:

    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
    • L73 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Forest Products
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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