Key points are not available for this paper at this time.
Naomi R. Lamoreaux, Daniel M. G. Raff, Peter Temin, Beyond Markets and Hierarchies: Toward a New Synthesis of American Business History, The American Historical Review, Vol. 108, No. 2 (April 2003), pp. 404-433
Lamoreaux et al. (Tue,) studied this question.