Abstract

Turnpike trusts were widely employed organizations that improved and maintained toll roads in eighteenth-century England. They were created by acts of Parliament and were promoted by local landowners and merchants. The first turnpike was established in 1663, but they were not widespread until 1770. This paper uses survival analysis to show that network effects and inter-city competition greatly influenced the diffusion of turnpikes. The results show that cities were more likely to adopt turnpikes if other turnpikes were adopted along their route to London and cities were less likely to adopt when their close competitors adopted. More generally, the findings illustrate the importance of interaction effects under decentralization.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.