Wheat, PE orcid.org/0000-0003-0659-5052 and Smith, A orcid.org/0000-0003-3668-5593 (2015) Do the Usual Results of Railway Returns to Scale and Density Hold in the Case of Heterogeneity in Outputs? A Hedonic Cost Function Approach. Journal of Transport Economics and Policy, 49 (1). pp. 35-47. ISSN 0022-5258
Abstract
This paper highlights the importance of modelling the interaction between returns to scale/density and heterogeneity of services when evaluating optimal size and structure of passenger rail operations. We propose and estimate a hedonic cost function which allows us to incorporate measures of train operator heterogeneity, which are central to evaluating the cost effect of merging heterogeneous train operators, and thus informing policy. We illustrate our model via three rail franchise mergers/remappings in Britain, and show that the wrong policy conclusion result could be obtained by only considering the scale and density properties, in isolation from heterogeneity.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | This is an author produced version of a paper published in Journal of Transport Economics and Policy. Uploaded in accordance with the publisher's self-archiving policy. |
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: | 27 Jul 2015 15:19 |
Last Modified: | 26 Nov 2020 17:09 |
Published Version: | https://www.jstor.org/stable/jtranseconpoli.49.1.0... |
Status: | Published |
Publisher: | University of Bath |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:88527 |