作者：Carnegie Mellon University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; National Bureau of Economic Research
摘要：This article shows that the Whiskey Trust used exclusive dealing and unusually low prices to deter entry and competition. Evidence of this is based on a unique dataset that allows us to estimate a firm-level demand curve for the trust, and to construct direct estimates of marginal cost. This article also shows that the strategies employed by the trust failed to deter entry. Market structure and state-level antitrust enforcement account for the failure of these strategies.
作者：William & Mary; University of North Carolina; University of North Carolina Greensboro
摘要：We provide evidence that the problem of raising capital in the early days of the U.S. electric-utility industry motivated industry leaders to embrace state rate-of-return regulation in return for a secure territorial monopoly. Utility executives anticipated that this would lead to a reduction in borrowing costs. Using firm-level bond data for 1910-1919, we estimate a model and find that state regulation led to lower borrowing costs but that the magnitude of the reduction was small. We also fin...
作者：University System of Ohio; University of Cincinnati
作者：University of Alabama System; University of Alabama Tuscaloosa
作者：University System of Maryland; University of Maryland College Park
作者：University System of Georgia; Georgia Institute of Technology; Emory University
作者：University of California System; University of California Berkeley
