Social Status, Entry and Predation: The Case of British Shipping Cartels 1879–1929

The authors incorporate social status and regional affiliation—two variables of central sociological interest—into an economic analysis of entry and predation. They build on Scott Morton’s [1997] examination of entry and predation in the merchant shipping industry and examine whether the social status of an entrant owner impacts on the predation behavior of the incumbent cartels. They find that high social status entrants are significantly less...