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Optimal Fares Regulation for Britain's Railways

Whelan, GA, Batley, RP, Shires, JD and Wardman, MR (2008) Optimal Fares Regulation for Britain's Railways. Transportation Research Part E - Logistics and Transportation Review, 44 (5). 807 - 819 . ISSN 1366-5545

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Abstract

This paper reports the findings of an economic evaluation of fares regulation options for Britain’s railways. The evaluation is based on the development of an econometric demand model based on a large scale survey of passenger preferences. The model was applied to comprehensive case study analysis of candidate fares regulation options based on the notion of a ‘fares basket’ and it was found that for any given price cap, any specific objective of revenue generation will be attained with lower welfare penalty if the basket is defined widely rather than narrowly.

Item Type: Article
Keywords: demand modelling, rail fares regulation, fares basket
Institution: The University of Leeds
Academic Units: The University of Leeds > Faculty of Environment (Leeds) > Institute for Transport Studies (Leeds)
Depositing User: Symplectic Publications
Date Deposited: 23 Jan 2012 12:21
Last Modified: 08 Feb 2013 17:36
Published Version: http://dx.doi.org/10.1016/j.tre.2007.03.005
Status: Published
Publisher: Elsevier Science
Identification Number: 10.1016/j.tre.2007.03.005
URI: http://eprints.whiterose.ac.uk/id/eprint/43659

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