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Abstract:

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CentrePiece Article
Victorian internet: the trade impact of the transatlantic telegraph
Claudia Steinwender
May 2014
Paper No' CEPCP417:
Full Paper (pdf)

CentrePiece 19 (1) Spring 2014


Tags: trade; technology; markets; consumer demand; economic history

The telegraph was the Victorian equivalent of today’s ‘big data’, helping firms to forecast future demand. Analysing such unique historical ‘experiments’ helps understand how firms and markets respond when new technology leads to a dramatic change in the availability of information.

This article summarises 'Information Frictions and the Law of One Price: 'When the States and the Kingdom became United' by Claudia Steinwender, London School of Economics & Political Science, April 2014.
This paper has been published as:
'Real Effects of Information Frictions: When the States and Kingdom Became United', Claudia Steinwender, American Economic Review, Volume 108, No. 3, March 2018