Wheat, PE orcid.org/0000-0003-0659-5052 and Smith, ASJ orcid.org/0000-0003-3668-5593 (2008) Assessing the Marginal Infrastructure Maintenance Wear and tear Costs for Britain's Railway Network. Journal of Transport Economics and Policy, 42 (2). pp. 189-224. ISSN 0022-5258
Abstract
This paper applies econometric methods to estimate marginal track maintenance cost in Britain — for the first time. The British case is the most radical example of rail reform in the world, and the 2005 Railway Act has resulted in a new and unique regulatory process for determining funding and service levels, where the marginal cost of changing service patterns will be a key input. Cost elasticity and marginal cost estimates are reported and compared against the results of the engineering-based approaches currently used to set variable access charges in Britain, and also against those reported for other countries. The relationship between traffic density and elasticity and marginal cost estimates is explored. The paper also discusses the potential biases introduced into elasticity and marginal cost estimates when dealing with a railway that may be out of steady state, and how to adjust for these.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Keywords: | infrastructure; system; adaptive; Forward; collision; warning; assessing; marginal |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Environment (Leeds) > Institute for Transport Studies (Leeds) > ITS: Economics and Discrete Choice (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 18 Feb 2015 15:07 |
Last Modified: | 06 Jan 2021 12:08 |
Published Version: | https://www.ingentaconnect.com/content/lse/jtep/20... |
Status: | Published |
Publisher: | School of Management, University of Bath |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:82984 |