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Setting the market free: deregulation of the bus industry. 4th Smeed Memorial Lecture, 29th October 1987.

Gwilliam, K.M. (1987) Setting the market free: deregulation of the bus industry. 4th Smeed Memorial Lecture, 29th October 1987. Working Paper. Institute of Transport Studies, University of Leeds , Leeds, UK.

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Abstract

[FIRST PARAGRAPH]Though he was not himself an economist, Reuben Smeed is well known to transport economists as the chairman of a committee which, in the early sixties, examined the use of congestion charges to obtain a rational use of scarce urban road capacity. (1) The Smeed report showed that in the absence of a proper road congestion pricing system there would be an excessive use of the private car, and, by implication, a sub optimum level of use of public transport. Although, to the best of my knowledge, Reuben never turned his mind to the issues of public transport regulation, the ready acceptance of public transport regulation and subsidy as second best proxies for road pricing in the late sixties and seventies was, I believe, founded on the Smeed logic.

Item Type: Monograph (Working Paper)
Copyright, Publisher and Additional Information: Copyright of the Institute of Transport Studies, University Of Leeds.
Institution: The University of Leeds
Academic Units: The University of Leeds > Faculty of Environment (Leeds) > Institute for Transport Studies (Leeds)
Depositing User: Adrian May
Date Deposited: 04 Apr 2007
Last Modified: 30 Aug 2014 21:56
Published Version: http://www.its.leeds.ac.uk/
Status: Published
Publisher: Institute of Transport Studies, University of Leeds
Identification Number: Working Paper 259
URI: http://eprints.whiterose.ac.uk/id/eprint/2299

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