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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.
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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...
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作者：University System of Ohio; University of Cincinnati
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作者：Bangor University
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作者：Vanderbilt University; National Bureau of Economic Research; University System of Georgia; University of Georgia
摘要：We examine the extent and correlates of part-year manufacturing during the late nineteenth century using unpublished data from the manuscripts of the 1870 and 1880 censuses of manufactures. These are the earliest comprehensive estimates available on this topic. Although the typical manufacturing plant operated full-time, part-year operation was not uncommon. Indeed, the likelihood of part-year operation varied across industries and location and with plant characteristics, and workers in such p...
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作者：University of Rochester
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作者：Indiana University System; Indiana University Bloomington
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作者：Lehigh University
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作者：London Metropolitan University
摘要：In the post-Second World War period the floor fell out of the market for films in the United States. However, while the average revenue of films fell, the hit end of the market sustained itself. The growing inequality in the distribution of revenues meant that the risks associated with high-budget productions could no longer be balanced against the steady earnings of medium-budget films. During the 1950s the majors all became distributor-financiers as they reduced their exposure to the risks a...
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作者：Massey University
