Cartels, Managerial Incentives, and Productive Efficiency in German Coal Mining, 1881–1913

Burhop, Carsten; Lübbers, Thorsten

doi:10.1017/s0022050709000862

Cited by 28 publications

(3 citation statements)

References 51 publications

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“…143 One intensely studied phenomenon is legal German commodity cartels. Regression analyses of output of a large sample of German coal-mining firms determined that productive efficiency did not change when they joined the Ruhr cartel during 1883À1913 (Burhop and Lu¨bbers, 2008). Audretsch (1989) collected information on a large number of post-1945 German cartels; he showed that cartel formation resulted in lower output, not lower costs.…”

Section: Implications For Economicsmentioning

confidence: 99%

Cartel overcharges

Connor¹

2014

The Law and Economics of Class Actions

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Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891À1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60À80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

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Section: Implications For Economicsmentioning

confidence: 99%

Cartel overcharges

Connor¹

2014

The Law and Economics of Class Actions

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“…In order to measure technical efficiency and investigate the causes of inefficiency in the Chinese coal industry, Wu [8] used traditional SFA to measure technical efficiency and investigates the causes of inefficiency in the Chinese coal industry, and Koop and Tole [21] use environmentally adapted Bayesian SFA to measure firm environmental output in the global gold mining industry. Other recent conventional SFA studies that deal with aspects of efficiency at the industry level are the works by Burhop and Lübbers [22], Akinboade et al [23], Shi [24], Shi, and Grafton [25], and Syed et al [26]. SFA was also used in the utility sector to determine the environmental or technical efficiency of electric utilities [27,28].…”

Section: Literature Reviewmentioning

confidence: 99%

Efficiency Analysis of Lignite Mining Operations Using Production Stochastic Frontier Modeling

Tsolas

2021

Mining

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This paper proposes a stochastic frontier model for measuring both technical and environmental performance at the mine level by using a translog production function. The Kardia Field opencast lignite mine of the Greek Public Power Corporation (PPC), S.A. is the topic of the case study. Efficiency ratings are derived over a long period of time using annual operating data, and in addition, the determinants of inefficiency are established by means of the technical inefficiency effects model. In the light of the results, there is a strong correlation between technical and environmental efficiency; the results are validated by those produced by data envelopment analysis (DEA). In addition, the stripping ratio is identified as the statistically significant determinant of performance. The proposed framework could be used as an instrument to measure the efficiency of lignite mining operations and to identify the drivers of performance.

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“…In economic history, this method has also recently been applied byBurhop and Lübbers (2009), who look at the productive efficiency of 28 German coal mines between 1881 and 1913.…”

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confidence: 99%

The role of technology and institutions for growth: Danish creameries in the late nineteenth century

Henriksen¹,

Lampe²,

Sharp³

2011

European Review of Economic History

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We consider the relative contributions of changing technology and institutions for economic growth through the investigation of a natural experiment in history: the almost simultaneous introduction of the automatic cream separator and the cooperative ownership form in the Danish dairy industry from around 1880. Using a new database of statistics from creameries and the tool of stochastic frontier analysis, we find that both institutions and technology were important for the success of the Danish dairy industry and, by implication, the growth and early development of the Danish economy.

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Cartels, Managerial Incentives, and Productive Efficiency in German Coal Mining, 1881–1913

Cited by 28 publications

References 51 publications

Cartel overcharges

Cartel overcharges

Efficiency Analysis of Lignite Mining Operations Using Production Stochastic Frontier Modeling

The role of technology and institutions for growth: Danish creameries in the late nineteenth century

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