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Shipwrecks on the Great Lakes and the Lake Carriers Association

Author

Listed:
  • Decker, Christopher
  • Corcoran, William
  • Flynn, David

Abstract

In this paper we investigate the relationship between accidental shipping losses on the Great Lakes between 1900 and 1939 and the role the Lake Carriers Association played in preventing or limiting such losses. Moreover, we address the relative benefits of private effort, through the Lake Carriers Association, and public sector effort to reduce shipwrecks and capital losses through weather information transmission from the National Weather Service. Overall, our results confirm existing research that weather information supplied through National Weather Services stations generally resulted in smaller accidental shipping losses. However, we also find that increases in Lake Carriers Association membership also reduces such losses, and to a greater degree. This result is consistent across different measures and types of shipping losses.

Suggested Citation

  • Decker, Christopher & Corcoran, William & Flynn, David, 2008. "Shipwrecks on the Great Lakes and the Lake Carriers Association," MPRA Paper 11378, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:11378
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    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. 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.
    3. 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.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    shipwrecks accidents association membership;

    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-

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