Transactions, standardisation and competition: Establishing uniform sizes in the British wire industry c.1880

Velkar, Aashish (2009) Transactions, standardisation and competition: Establishing uniform sizes in the British wire industry c.1880. Business History, 51 (2). pp. 222-247. ISSN 17437938

Full text not available from this repository.

Abstract

When science could not provide a solution to transaction problems in the British wire industry c.1880, market groups had to negotiate a business solution. This involved converging towards a 'one-size-fits-all' standard: a process requiring compromises and cooperation between competitive firms, and solving coordination failure through state intervention. This paper demonstrates how different groups held different notions of 'ideal' standards depending on the incentives they faced. Reconciling these differences was an institutional, rather than a technological, process. The paper also analyses why, historically, dominant producers cooperated to set industry standards when faced with an imminent lock-in on 'wrong' standards imposed on the industry.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > Business and Management
Depositing User: Aashish Velkar
Date Deposited: 06 Feb 2012 18:45
Last Modified: 06 Jun 2012 08:14
URI: http://sro.sussex.ac.uk/id/eprint/18199
📧 Request an update