The Telegraph and Stock Exchanges: How Innovations in Communications Technology Influenced Regional Exchanges in the United States, 1830–1860 - Rilegato

Garg, Sonali

Rilegato

ISBN 10: 3031404068 ISBN 13: 9783031404061

Casa editrice: Palgrave Macmillan, 2024

Riassunto

In the 1830s, New York, Philadelphia, and Boston each had a stock exchange. These were the New York Stock Exchange (NYSE), Philadelphia Stock Exchange, and Boston Stock Exchange. As there was no reliable means of communicating between these cities in real time, each exchange served its local market. The 1840s brought an innovation in communications technology: the telegraph, which, in time, brought these exchanges into competition with each other.

Three previously independent stock markets became, in effect, a single market. If a security was listed on more than one exchange, potential buyers and sellers could choose the exchange on which to execute a trade in this security. This book closely analyzes this competition.

The NYSE emerged as the winner of this competition. It became the place to trade securities that evoked regional and eventually national interest, while the Boston and Philadelphia exchanges remained regional exchanges. This book explores when and whythis happened. This analysis is applied to the competition between (i) stock exchanges today; (ii) taxi ride-booking services such as Uber and Ola; (iii) restaurant to home, food delivery services, such a Zomato and Swiggy; and (iv) doorstep delivery services, such as Blinkit and Zepto.

Su questo libro

Informazioni sull'autore

Sonali Garg is an independent researcher based in New Delhi, India. She has worked as a regulator at the Competition Commission of India and holds a Ph.D. in Economics from The Ohio State University. Views expressed in the book are the author’s.

Dalla quarta di copertina

In the 1830s, New York, Philadelphia, and Boston each had a stock exchange. These were the New York Stock Exchange (NYSE), Philadelphia Stock Exchange, and Boston Stock Exchange. As there was no reliable means of communicating between these cities in real time, each exchange served its local market. The 1840s brought an innovation in communications technology: the telegraph, which, in time, brought these exchanges into competition with each other.

Three previously independent stock markets became, in effect, a single market. If a security was listed on more than one exchange, potential buyers and sellers could choose the exchange on which to execute a trade in this security. This book closely analyzes this competition.

The NYSE emerged as the winner of this competition. It became the place to trade securities that evoked regional and eventually national interest, while the Boston and Philadelphia exchanges remained regional exchanges. This book explores when and why this happened. This analysis is applied to the competition between (i) stock exchanges today; (ii) car rental aggregator services such as Uber and Ola; (iii) restaurant to home, food delivery services, such a Zomato and Swiggy; and (iv) doorstep delivery services, such as Blinkit and Zepto.

 

Sonali Garg is an independent researcher based in New Delhi, India. She has worked as a regulator at the Competition Commission of India and holds a Ph.D. in Economics from The Ohio State University. Views expressed in the book are the author’s.

Dettagli dell'edizione

• Editore: Palgrave Macmillan
• Data di pubblicazione: 2024
• Lingua: Inglese
• ISBN 10: 3031404068
• ISBN 13: 9783031404061
• Rilegatura: Copertina rigida
• Numero edizione: 1
• Numero di pagine: 163
• Contatto del produttore: Springer Nature Customer Service Center GmbH; ProductSafety@springernature.com; ; Europaplatz 3,69115 Heidelberg, Germany; Heidelberg; 69115; Germania