Public Transit Economics and Deregulation Policy book cover

Public Transit Economics and Deregulation Policy

Drawing on transit experience from various countries and markets, this book examines the economic environment of transit operations, the cost and production properties of transit service supply and the policies and prospects of transit regulatory reform. The principal objectives of the book are: first to conduct theoretical and empirical analyses of the major factors which jointly determine the economic structure and conditions of the transit sector; and second to explore and suggest policies which could resolve the sector's present crisis and make it economically viable. The first objective is explored in Part One where major structural demand factors and regulatory and subsidy conditions are identified and examined. Analytical and empirical measurement of technical production characteristics of transit services supply is carried out in Part Two. Part Three focuses on transit regulatory reform policy issues.

The book is aimed primarily at an audience of transportation professionals, including economists and planners as well as public policy analysts. It requires, in general, a sound background in economics, mainly microeconomics. Thus graduate students in economics, geography, urban planning and public policy, and advanced undergraduates with good training in economics can best benefit from this book.

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Published: April 1993

Imprint: North-holland

ISBN: 978-0-444-89275-1

Reviews

  • It fills a critical gap in the existing literature by providing a superb overview of a wide range of issues and by enriching that literature through its pathbreaking theoretical work and extensive empirical evidence.
    Transportation Research - A


    From the perspective of both theory and application this book would prove to be one of the finest on transit economics to date.
    Journal of the Transportation Research Forum

Contents

  • Introduction and Overview. Introduction. Approach, Objectives and Scope of Analysis. Overview. THE ECONOMIC ENVIRONMENT OF TRANSIT OPERATIONS. Contemporary Metropolitan Areas and the Demand for Transit. Introduction. Transit Travel Demand Patterns. Principles of Transit Travel Demand Analysis. Effects of Urban Form, Demographic and Female Employment Factors on Transit Demand. Transit Demand Elasticities. Public Policy Effects on Transit Demand. Conclusions. The Economic Environment of Transit Services Supply. Introduction. Theoretical Considerations in the Regulation and Subsidization of Public Transport. Actual Forms of Regulation of Public Transit. Transit Subsidization. The Monopsonistic Power of Labor Unions in Transit. Regulatory and Subsidy Policies and Transit Firms' Behavior. Conclusions. COST AND PRODUCTION PROPERTIES OF TRANSIT SERVICE SUPPLY. Transit Services Provision: The Decision Making Problem. Introduction. Theoretical Foundation of Transit Resource Allocation Decision Model. Review of Studies on the Decision Making Model of Transit Service Provision. Determinants of the Transit Firm Decision Problem. A Transit Resources Allocation Model. Empirical Properties of the Decision Model. Conclusions. Analysis of Transit Cost and Production Structure. Introduction. Models Used in Transit Cost Analysis. Data Bases Used in Empirical Studies. Analysis of Transit Cost Elasticities. Properties of Transit Production Technology. Conclusions. Appendix A: The Translogarithmic Cost Function Model. Analysis of Transit Productivity and Efficiency. Introduction. Concepts of Efficiency and Productivity. Performance Indicators Analysis. Cost and Production Function-Based Partial and Full Factor Productivity Measures. Alternative Methodologies for Measuring Transit Productivity. A Market Equilibrium Model of Transit Productivity Measurement. Principal Factors Affecting Transit Productivity Changes. Conclusions. TRANSIT REGULATORY REFORM: POLICIES AND PROSPECTS. Theoretical Foundations of Transit Regulatory Reform Perspectives. Introduction. The Political-Economic Context of Regulatory Reform. Transit Regulatory Reform Policies. Regimes of Transit Regulatory Reform Policies. Conclusions.Transit Deregulation and Market Structure. Introduction. Working Definition of Transit Market Deregulation Policy. Transit Markets Contestability. Analysis of Entry Deterrence in Deregulated Transit Markets. Structure of Deregulated Transit Markets. Conclusions. Lessons from Transit Deregulation and Privatization Policies. Introduction. Evaluation of Results from Transit Regulatory Reforms. The UK Transit Deregulation. The USA Inter-urban Bus Deregulation. Regulatory Reforms in Other Countries. Conclusions. Competitive Tendering as a Transit Policy Option. Introduction. Forms of Competitive Tendering. Competitive Tendering: Theoretical Foundations and Problems. Operating Franchises. Experience from Competitive Tendering in Public Transit. Conclusions. Proposed Transit Policy Regimes. Introduction. A Comparison of Transit Policy Options. Proposed Transit Policy Regimes in Transit Markets. Bibliography. Subject Index.

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