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It is generally agreed that railways were a prerequisite to the Canadian `wheat boom.' In this paper we analyse the timing of railway construction in south-eastern Saskatchewan during the wheat boom period. A monopoly model is derived in which a railway makes its construction and pricing decisions on the basis of a rational settler's response function. Between 1898 and 1906, when the CPR had a monopoly, the model closely predicts freight rates and the timing of branch line completions. The increase in branch line construction after 1898 is explained partly by the decline in the railway's operating cost and partly by the Crow's Nest Pass Agreement. This agreement raised the value of CPR land by setting long-term ceilings on freight rates. /// Le moment approprié pour la construction du chemin de fer dans les prairies canadiennes. On est généralement d'accord pour dire que les chemins de fer ont été une condition nécessaire pour le boom du blé. Dans ce mémoire, les auteurs analysent les décisions quant au moment de la construction des chemins de fer dans le sud-est de la Saskatchewan au cours de la période du boom du blé. Ils dérivent un modèle de monopole dans lequel la compagnie de chemin de fer prend ses décisions quant à la construction et quant à la tarification sur la base d'une fonction de réaction des colons rationnels. Entre 1898 et 1906, la période de monopole du CPR, le modèle permet de prédire à quel moment on devrait compléter la construction de certaines lignes secondaires et quelle devrait être la tarification. L'accélération de la construction des lignes secondaires après 1898 est attribuable en partie à la chute dans les coûts d'opération du CPR et en partie à l'Accord des tarifs du Nid de Corbeau. Cet accord élevait la valeur des terres du CPR en imposant un plafond à long terme sur les tarifs.
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The Canadian Journal of Economics / Revue canadienne d'Economique
© 1984 Canadian Economics Association