While farmers may have benefited from the establishment of a price ceiling on freight rates, the nature of the railroad industry may have not have permitted perfect competition. Economist Robert Harbeson argues that the price wars prior to the Elkins Act suggest that the railroad industry was more oligopolistic. In an industry with decreasing marginal costs and high fixed costs, it would be futile to enforce a price cap. Moreover, he argues, stronger regulation would have prevented carriers from reaching economies of scale.