Shipwrecks on the Great Lakes and the Lake Carriers Association

Christopher Decker, William Corcoran and David Flynn

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper we investigate the relationship between accidental shipping losses on the Great Lakes between 1900 and 1939 and the role the Lake Carriers Association played in preventing or limiting such losses. Moreover, we address the relative benefits of private effort, through the Lake Carriers Association, and public sector effort to reduce shipwrecks and capital losses through weather information transmission from the National Weather Service. Overall, our results confirm existing research that weather information supplied through National Weather Services stations generally resulted in smaller accidental shipping losses. However, we also find that increases in Lake Carriers Association membership also reduces such losses, and to a greater degree. This result is consistent across different measures and types of shipping losses.

Keywords: shipwrecks; accidents; association; membership (search for similar items in EconPapers)
JEL-codes: L13 L61 N62 N82 (search for similar items in EconPapers)
Date: 2008-10-30
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https://mpra.ub.uni-muenchen.de/11378/1/MPRA_paper_11378.pdf original version (application/pdf)

Related works:
Journal Article: Shipwrecks on the Great Lakes and the Lake Carriers Association (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:11378

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