How Policy Shapes Competition: Early Railroad Foundings in Massachusetts
To examine the effects of policy on markets and competition we outline hypotheses about the effects of three common policy regimes-public capitalization, pro-cartel, and antitrust-on competition and the founding of new firms. Analyses of Massachusetts railroad foundings between 1825 and 1922 show th...
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| Veröffentlicht in: | Administrative science quarterly 1997-09, Vol.42 (3), p.501-529 |
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| creator | Dobbin, Frank Dowd, Timothy J. |
| description | To examine the effects of policy on markets and competition we outline hypotheses about the effects of three common policy regimes-public capitalization, pro-cartel, and antitrust-on competition and the founding of new firms. Analyses of Massachusetts railroad foundings between 1825 and 1922 show that public capitalization raises the number of foundings by increasing available resources, pro-cartel policies raise the number of foundings by dampening competition from incumbents, and antitrust depresses foundings by stimulating competition. Ecological factors only show the expected effects once policy is controlled. Industrial organization factors show no net effects. We argue that public policy establishes the ground rules of competition and thus creates varieties of market behavior. |
| doi_str_mv | 10.2307/2393736 |
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Analyses of Massachusetts railroad foundings between 1825 and 1922 show that public capitalization raises the number of foundings by increasing available resources, pro-cartel policies raise the number of foundings by dampening competition from incumbents, and antitrust depresses foundings by stimulating competition. Ecological factors only show the expected effects once policy is controlled. Industrial organization factors show no net effects. 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Analyses of Massachusetts railroad foundings between 1825 and 1922 show that public capitalization raises the number of foundings by increasing available resources, pro-cartel policies raise the number of foundings by dampening competition from incumbents, and antitrust depresses foundings by stimulating competition. Ecological factors only show the expected effects once policy is controlled. Industrial organization factors show no net effects. We argue that public policy establishes the ground rules of competition and thus creates varieties of market behavior.</description><subject>20th century</subject><subject>Administrative science</subject><subject>Antitrust</subject><subject>Capitalization</subject><subject>Cartels</subject><subject>Competition</subject><subject>Competition (Economics)</subject><subject>Competition policy</subject><subject>Ecological competition</subject><subject>Ecologists</subject><subject>Ecology</subject><subject>Economic aspects</subject><subject>Economic competition</subject><subject>Economic policy</subject><subject>Economic resources</subject><subject>Effects</subject><subject>Factors</subject><subject>Founding</subject><subject>Government policy</subject><subject>Historians</subject><subject>History</subject><subject>Hypotheses</subject><subject>Industrial market</subject><subject>Industrial regulation</subject><subject>Market</subject><subject>Market entry</subject><subject>Markets</subject><subject>Massachusetts</subject><subject>Organizational Change</subject><subject>Organizational Structure</subject><subject>Policy</subject><subject>Policy making</subject><subject>Policymaking</subject><subject>Population</subject><subject>Public capital</subject><subject>Public Policy</subject><subject>Rail industry</subject><subject>Railroad holding companies</subject><subject>Railroads</subject><subject>Railways</subject><subject>Regulation</subject><subject>Regulatory competition</subject><subject>State Government (Massachusetts)</subject><subject>Studies</subject><subject>United States environmental 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Policy Shapes Competition: Early Railroad Foundings in Massachusetts</title><author>Dobbin, Frank ; Dowd, Timothy J.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c606t-c19415a1486732f9e5171eb23b31a3a6bb0d8082b5ea2e27d13161de45739dfb3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>1997</creationdate><topic>20th century</topic><topic>Administrative science</topic><topic>Antitrust</topic><topic>Capitalization</topic><topic>Cartels</topic><topic>Competition</topic><topic>Competition (Economics)</topic><topic>Competition policy</topic><topic>Ecological competition</topic><topic>Ecologists</topic><topic>Ecology</topic><topic>Economic aspects</topic><topic>Economic competition</topic><topic>Economic policy</topic><topic>Economic resources</topic><topic>Effects</topic><topic>Factors</topic><topic>Founding</topic><topic>Government 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J.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>How Policy Shapes Competition: Early Railroad Foundings in Massachusetts</atitle><jtitle>Administrative science quarterly</jtitle><date>1997-09-01</date><risdate>1997</risdate><volume>42</volume><issue>3</issue><spage>501</spage><epage>529</epage><pages>501-529</pages><issn>0001-8392</issn><eissn>1930-3815</eissn><coden>ASCQAG</coden><abstract>To examine the effects of policy on markets and competition we outline hypotheses about the effects of three common policy regimes-public capitalization, pro-cartel, and antitrust-on competition and the founding of new firms. 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| ispartof | Administrative science quarterly, 1997-09, Vol.42 (3), p.501-529 |
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| language | eng |
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| source | Applied Social Sciences Index & Abstracts (ASSIA); Jstor Complete Legacy; Education Source; Political Science Complete; Worldwide Political Science Abstracts; Business Source Complete; Sociological Abstracts; Periodicals Index Online |
| subjects | 20th century Administrative science Antitrust Capitalization Cartels Competition Competition (Economics) Competition policy Ecological competition Ecologists Ecology Economic aspects Economic competition Economic policy Economic resources Effects Factors Founding Government policy Historians History Hypotheses Industrial market Industrial regulation Market Market entry Markets Massachusetts Organizational Change Organizational Structure Policy Policy making Policymaking Population Public capital Public Policy Rail industry Railroad holding companies Railroads Railways Regulation Regulatory competition State Government (Massachusetts) Studies United States environmental policy |
| title | How Policy Shapes Competition: Early Railroad Foundings in Massachusetts |
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