Shipwrecks on the Great Lakes and the Lake Carriers Association

Christopher S Decker, William Corcoran and David Flynn
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Christopher S Decker: Department of Economics, University of Nebraska at Omaha, 60th and Dodge Street, Omaha, NE 68182, USA
William Corcoran: Department of Economics, University of Nebraska at Omaha, 60th and Dodge Street, Omaha, NE 68182, USA

Eastern Economic Journal, 2011, vol. 37, issue 4, 450-469

Abstract: In this paper, we investigate the relationship between accident-related shipping losses on the Great Lakes between 1900 and 1939 and the role the Lake Carriers Association (LCA) played in limiting or preventing such losses. Moreover, we address the relative benefits of private sector effort, through the LCA, and public sector efforts to reduce shipwrecks and capital losses through National Weather Bureau stations. Overall, our results confirm existing research that National Weather Bureau stations reduce accident-related shipping losses. However, we also find that increased membership in the LCA also reduced such losses, and to a significant degree.

Date: 2011
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Working Paper: Shipwrecks on the Great Lakes and the Lake Carriers Association (2008)
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