How Policy Shapes Competition: Early Railroad Foundings in Massachusetts

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How Policy Shapes Competition: Early Railroad Foundings in Massachusetts

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Title: How Policy Shapes Competition: Early Railroad Foundings in Massachusetts
Author: Dobbin, Frank; Dowd, Timothy J.

Note: Order does not necessarily reflect citation order of authors.

Citation: Dobbin, Frank, and Timothy J. Dowd. 1997. How policy shapes competition: Early railroad foundings in Massachusetts. Administrative Science Quarterly 42(3): 501-529.
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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. 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.
Published Version: http://dx.doi.org/10.2307/2393736
Terms of Use: This article is made available under the terms and conditions applicable to Other Posted Material, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#LAA
Citable link to this page: http://nrs.harvard.edu/urn-3:HUL.InstRepos:3202908

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  • FAS Scholarly Articles [7078]
    Peer reviewed scholarly articles from the Faculty of Arts and Sciences of Harvard University
 
 

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