Public sector allocative and legislative decisions typically involve the assessment of a variety of prospective consequences. In some cases, notably in transport as well as energy and medical care, these consequences may include significant beneficial or harmful effects on individual safety. If such decisions are to be taken in a systematic and consistent manner and if scarce resources are to be allocated efficiently and to greatest advantage, then it would seem to be necessary to have a method of associating explicit values with anticipated improvements in safety and costs in deterioration in order that these effects can be weighted in relation to other desirable and undesirable consequences of the decisions.
{"title":"THE VALUE OF SAFETY: RESULTS OF A NATIONAL SAMPLE SURVEY. IN: URBAN TRANSPORT","authors":"M. Jones-Lee, M. Hammerton, P. Philips","doi":"10.2307/2233468","DOIUrl":"https://doi.org/10.2307/2233468","url":null,"abstract":"Public sector allocative and legislative decisions typically involve the assessment of a variety of prospective consequences. In some cases, notably in transport as well as energy and medical care, these consequences may include significant beneficial or harmful effects on individual safety. If such decisions are to be taken in a systematic and consistent manner and if scarce resources are to be allocated efficiently and to greatest advantage, then it would seem to be necessary to have a method of associating explicit values with anticipated improvements in safety and costs in deterioration in order that these effects can be weighted in relation to other desirable and undesirable consequences of the decisions.","PeriodicalId":183852,"journal":{"name":"Classics in Transport Analysis","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1985-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128235730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper, a transportation network model is applied to simulate Toronto International (Malton) Airport in order to determine marginal social cost prices of using Malton's facilities throughout the day. The results are then evaluated in terms of an economic surplus criterion to investigate policy issues such as whether congestion tolls should be assessed and the timing and location of additional airport capacity. The Canadian Ministry of Transport is proposing to build an international airport at Pickering, 30 miles northeast of Toronto, in order to alleviate future congestion and reduce noise at Malton. Findings suggest that congestion pricing should be introduced at Malton. It is further suggested that the expansion of airport facilities is not necessary until the mid-1980s, and that when expansion occurs it should initially occur at Malton rather than Pickering. These findings contradict the recommendations of the Ministry of Transport, which were made using engineering criteria for capacity expansion and comparisons of physical magnitudes of the two airport sites. However, transportation network models that incorporate prices and determine equilibrium flows represent an advance over these planning models.
{"title":"PRICING AND INVESTMENT IN A TRANSPORTATION NETWORK: THE CASE OF TORONTO AIRPORT. IN: AIR TRANSPORT","authors":"S. Borins","doi":"10.2307/134373","DOIUrl":"https://doi.org/10.2307/134373","url":null,"abstract":"In this paper, a transportation network model is applied to simulate Toronto International (Malton) Airport in order to determine marginal social cost prices of using Malton's facilities throughout the day. The results are then evaluated in terms of an economic surplus criterion to investigate policy issues such as whether congestion tolls should be assessed and the timing and location of additional airport capacity. The Canadian Ministry of Transport is proposing to build an international airport at Pickering, 30 miles northeast of Toronto, in order to alleviate future congestion and reduce noise at Malton. Findings suggest that congestion pricing should be introduced at Malton. It is further suggested that the expansion of airport facilities is not necessary until the mid-1980s, and that when expansion occurs it should initially occur at Malton rather than Pickering. These findings contradict the recommendations of the Ministry of Transport, which were made using engineering criteria for capacity expansion and comparisons of physical magnitudes of the two airport sites. However, transportation network models that incorporate prices and determine equilibrium flows represent an advance over these planning models.","PeriodicalId":183852,"journal":{"name":"Classics in Transport Analysis","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1978-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114440080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1978-10-01DOI: 10.1016/0041-1647(78)90011-4
K. Train, Daniel McFadden, Daniel McFadden
{"title":"THE GOODS/LEISURE TRADEOFF AND DISAGGREGATE WORK TRIP MODE CHOICE MODELS. IN: URBAN TRANSPORT","authors":"K. Train, Daniel McFadden, Daniel McFadden","doi":"10.1016/0041-1647(78)90011-4","DOIUrl":"https://doi.org/10.1016/0041-1647(78)90011-4","url":null,"abstract":"","PeriodicalId":183852,"journal":{"name":"Classics in Transport Analysis","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1978-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128587397","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this study, a model is developed for estimating two types of potential scale economies in the railroad industry: returns to traffic density and returns to firm size. The model is developed by making short-runs a function of both traffic and plant investment (trackage), and is then estimated over a cross section of railroads. A long-run cost envelope is derived from the estimated short-run relationship. Results indicate substantial unexploited economies of traffic density for most railroads, but constant long-run returns to scale. These findings imply that much can be done, possibly including track abandonment, to achieve a market solution to the financial problems faced by the railroad industry.
{"title":"RAILROAD COSTS, RETURNS TO SCALE, AND EXCESS CAPACITY. IN: RAILWAYS","authors":"T. Keeler","doi":"10.2307/1924440","DOIUrl":"https://doi.org/10.2307/1924440","url":null,"abstract":"In this study, a model is developed for estimating two types of potential scale economies in the railroad industry: returns to traffic density and returns to firm size. The model is developed by making short-runs a function of both traffic and plant investment (trackage), and is then estimated over a cross section of railroads. A long-run cost envelope is derived from the estimated short-run relationship. Results indicate substantial unexploited economies of traffic density for most railroads, but constant long-run returns to scale. These findings imply that much can be done, possibly including track abandonment, to achieve a market solution to the financial problems faced by the railroad industry.","PeriodicalId":183852,"journal":{"name":"Classics in Transport Analysis","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1974-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134374324","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1938-07-01DOI: 10.1007/978-1-4613-8905-7_10
H. Hotelling
{"title":"THE GENERAL WELFARE IN RELATION TO PROBLEMS OF TAXATION AND OF RAILWAY AND UTILITY RATES. IN: RAILWAYS","authors":"H. Hotelling","doi":"10.1007/978-1-4613-8905-7_10","DOIUrl":"https://doi.org/10.1007/978-1-4613-8905-7_10","url":null,"abstract":"","PeriodicalId":183852,"journal":{"name":"Classics in Transport Analysis","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1938-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114756065","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper investigates whether the theory holds true for city-pair airline markets that contestable markets, even if actually served by only one firm, exhibit many desirable properties of competitive markets. Despite substantial natural monopoly attributes, most airlines are likely to be readily contested. This fact ensures that even if actually operated by only a single firm, their performance should approach the competitive norm. This paper tests this theory using data emerging from the ongoing transition from regulated to unregulated equilibrium. Market structure and fare data from 1978-1980 is examined. Findings show that long haul airline markets served by local service monopolists have been priced competitively, confirming the proposed theory.
{"title":"THE CONTESTABILITY OF AIRLINE MARKETS DURING THE TRANSITION TO DEREGULATION. IN: AIR TRANSPORT","authors":"E. Bailey, J. Panzar","doi":"10.2307/1191388","DOIUrl":"https://doi.org/10.2307/1191388","url":null,"abstract":"This paper investigates whether the theory holds true for city-pair airline markets that contestable markets, even if actually served by only one firm, exhibit many desirable properties of competitive markets. Despite substantial natural monopoly attributes, most airlines are likely to be readily contested. This fact ensures that even if actually operated by only a single firm, their performance should approach the competitive norm. This paper tests this theory using data emerging from the ongoing transition from regulated to unregulated equilibrium. Market structure and fare data from 1978-1980 is examined. Findings show that long haul airline markets served by local service monopolists have been priced competitively, confirming the proposed theory.","PeriodicalId":183852,"journal":{"name":"Classics in Transport Analysis","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114983078","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
W. Baumol, J. C. Bonbright, Y. Brozen, J. Dean, F. K. Edwards, C. B. Hoover, D. F. Pegrum, M. Roberts, E. W. Williams
This paper presents a statement by ten economists to clarify the economic principles of costs that are relevant as a guide to the pricing of particular railroad services. The statement, concerned with basic concepts of cost, provides some of the essential groundwork for the development of improved techniques for the measurement of relevant costs in specific situations. The authors conclude that incremental costs of a particular service are the only relevant costs in the determination of cost floors as a guide to the pricing of particular railroad services. Rates for particular services should be set at such amounts as will make the greatest total contribution to net income. Pricing which is not restricted by any minimum other than incremental costs can foster more efficient use of railway resources and capacity and can therefore encourage lower costs and rates. The presence of large amounts of fixed costs and unused capacity in railroad facilities makes it especially important that railroad rates encourage a large volume of traffic. Reduced rates that more than cover incremental costs and are designed by management to maximize contribution to net income are not proof of predatory competition. Fully distributed costs derived by apportioning unallocable costs have no economic significance in determining rate floors for particular railroad services. The application of such criterion would force the railroads to maintain rates above the level which would yield maximum contribution to net income and deprive them of traffic for which they can compete economically.
{"title":"THE ROLE OF COST IN THE MINIMUM PRICING OF RAILROAD SERVICES. IN: RAILWAYS","authors":"W. Baumol, J. C. Bonbright, Y. Brozen, J. Dean, F. K. Edwards, C. B. Hoover, D. F. Pegrum, M. Roberts, E. W. Williams","doi":"10.1086/294531","DOIUrl":"https://doi.org/10.1086/294531","url":null,"abstract":"This paper presents a statement by ten economists to clarify the economic principles of costs that are relevant as a guide to the pricing of particular railroad services. The statement, concerned with basic concepts of cost, provides some of the essential groundwork for the development of improved techniques for the measurement of relevant costs in specific situations. The authors conclude that incremental costs of a particular service are the only relevant costs in the determination of cost floors as a guide to the pricing of particular railroad services. Rates for particular services should be set at such amounts as will make the greatest total contribution to net income. Pricing which is not restricted by any minimum other than incremental costs can foster more efficient use of railway resources and capacity and can therefore encourage lower costs and rates. The presence of large amounts of fixed costs and unused capacity in railroad facilities makes it especially important that railroad rates encourage a large volume of traffic. Reduced rates that more than cover incremental costs and are designed by management to maximize contribution to net income are not proof of predatory competition. Fully distributed costs derived by apportioning unallocable costs have no economic significance in determining rate floors for particular railroad services. The application of such criterion would force the railroads to maintain rates above the level which would yield maximum contribution to net income and deprive them of traffic for which they can compete economically.","PeriodicalId":183852,"journal":{"name":"Classics in Transport Analysis","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115279813","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
An urban general equilibrium model with cyberspace and physical space components is constructed and presented. In cyberspace, there is a virtual firm that produces virtual goods. In physical space, a firm is located in the central business district that produces physical goods. The main aim of this work is to study the relationship between cyberspace and physical space in a network city. Spatial structure of telecommunications and transportation networks in the city is also considered by numerical simulation. The spatial configuration of the city is determined through the general equilibrium. It is shown that 2 different configurations emerge depending on the parameters used.
{"title":"CYBERSPACE AND PHYSICAL SPACE IN A NETWORK CITY. IN: TRANSPORT AND INFORMATION SYSTEMS","authors":"H. Shibusawa","doi":"10.2457/SRS.28.15","DOIUrl":"https://doi.org/10.2457/SRS.28.15","url":null,"abstract":"An urban general equilibrium model with cyberspace and physical space components is constructed and presented. In cyberspace, there is a virtual firm that produces virtual goods. In physical space, a firm is located in the central business district that produces physical goods. The main aim of this work is to study the relationship between cyberspace and physical space in a network city. Spatial structure of telecommunications and transportation networks in the city is also considered by numerical simulation. The spatial configuration of the city is determined through the general equilibrium. It is shown that 2 different configurations emerge depending on the parameters used.","PeriodicalId":183852,"journal":{"name":"Classics in Transport Analysis","volume":"163 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116643395","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.4324/9780203985359-31
G. W. Douglas, J. Miller
This paper describes and attempts to quantify the relationships between slack capacity, passenger costs and overall service quality in the airline market. Optimal level and structure of airfares is suggested, and this estimated solution is contrasted with the market equilibrium now obtained under regulation. In the scheduled air transportation industry, an important component of quality is endogenous to the equilibrium, and a proxy measure of this quality characteristic can be estimated. The analysis presented here shows that ignoring the price-quality tradeoff can lead to significant divergences between the optimal and existing price-quality options. It is implied that a greater number of price-quality options is best, and additional techniques should be developed for price-quality differentiation within the regulatory environment. It is also clear from this analysis that the costs of regulated carriers are high because the price level is high, i.e, cost is price-determined rather than price-determining. Regulators do not need to be given explicit, direct control over capacity and quality because of the proclivity of carriers to compete intensively with scheduling rivals. Through the control of fares, the regulator has an efficient means of controlling total capacity and bringing about a more efficient level and structure of price-quality options.
{"title":"QUALITY COMPETITION, INDUSTRY EQUILIBRIUM, AND EFFICIENCY IN THE PRICE-CONSTRAINED AIRLINE MARKET. IN: AIR TRANSPORT","authors":"G. W. Douglas, J. Miller","doi":"10.4324/9780203985359-31","DOIUrl":"https://doi.org/10.4324/9780203985359-31","url":null,"abstract":"This paper describes and attempts to quantify the relationships between slack capacity, passenger costs and overall service quality in the airline market. Optimal level and structure of airfares is suggested, and this estimated solution is contrasted with the market equilibrium now obtained under regulation. In the scheduled air transportation industry, an important component of quality is endogenous to the equilibrium, and a proxy measure of this quality characteristic can be estimated. The analysis presented here shows that ignoring the price-quality tradeoff can lead to significant divergences between the optimal and existing price-quality options. It is implied that a greater number of price-quality options is best, and additional techniques should be developed for price-quality differentiation within the regulatory environment. It is also clear from this analysis that the costs of regulated carriers are high because the price level is high, i.e, cost is price-determined rather than price-determining. Regulators do not need to be given explicit, direct control over capacity and quality because of the proclivity of carriers to compete intensively with scheduling rivals. Through the control of fares, the regulator has an efficient means of controlling total capacity and bringing about a more efficient level and structure of price-quality options.","PeriodicalId":183852,"journal":{"name":"Classics in Transport Analysis","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115107473","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-3-642-48638-8_18
I. Orishimo
{"title":"DEVELOPMENT OF INFORMATICS AND POSSIBLE CHANGES IN URBANISATION PROCESSES. IN: TRANSPORT AND INFORMATION SYSTEMS","authors":"I. Orishimo","doi":"10.1007/978-3-642-48638-8_18","DOIUrl":"https://doi.org/10.1007/978-3-642-48638-8_18","url":null,"abstract":"","PeriodicalId":183852,"journal":{"name":"Classics in Transport Analysis","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130532380","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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