Mass Production Conquers the Pool: Firm Organization and the Nature of Competition in the Nineteenth Century
利用陶氏化学公司记录，分析19世纪末20世纪初分销商如何促进合谋，以及大规模生产商如何通过创新和纵向整合突破合谋限制。
This article uses the records of the Dow Chemical Company to analyze the role of distributors in facilitating collusion in the late nineteenth and early twentieth centuries. It compares collusion in three closely related markets: salt, bromine, and bleach. Where national distributors with well-established reputations had facilitated the entry of small producers into integrated markets, distributors could also facilitate collusion. Mass-producing entrants, like Dow, joined collusive distribution arrangements while improving their innovative production processes. In the longer run, they integrated forward to escape the output restrictions and arms-length relationship with customers imposed by collusive agreements.