Description
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.
Chapter
Chapter 1. Introduction and Overview
1.1. Approach, Objectives, and Scope of Analysis
PART ONE: THE ECONOMIC ENVIRONMENT OF TRANSIT OPERATIONS
Chapter 2. Contemporary Metropolitan Areas and the Demand for Transit
2.1. Transit Travel Demand Patterns
2.2. Principles of Transit Travel Demand Analysis
2.3. Effects of Urban Form, Demographic and Female Employment Factors on Transit Demand
2.4. Transit Demand Elasticities
2.5. Public Policy Effects on Transit Demand
Chapter 3. The Economic Environment of Transit Services Supply
3.1. Theoretical Considerations in the Regulation and Subsidization of Public Transport
3.2. Actual Forms of Regulation of Public Transit
3.3. Transit Subsidization
3.4. The Monopsonistic Power of Labor Unions in Transit
3.5. Regulatory and Subsidy Policies and Transit Firms' Behavior
Appendix A: Parameters of Transit Regulatory Policy
PART TWO: COST AND PRODUCTION PROPERTIES OF TRANSIT SERVICE SUPPLY
Chapter 4. Transit Services Provision: The Decision Making Problem
4.1. Theoretical Foundation of a Transit Resource Allocation Decision Model
4.2. Review of Studies on the Decision Making Model of Transit Service Provision
4.3. Determinants of the Transit Firm Decision Problem
4.4. A Transit Resources Allocation Model
4.5. Empirical Properties of the Decision Model
Chapter 5. Analysis of Transit Cost and Production Structure
5.1. Models Used in Transit Cost Analysis
5.2. Data Bases Used in Empirical Studies
5.3. Analysis of Transit Cost Elasticities
5.4. Properties of Transit Production Technology
Appendix A: The Translogarithmic Cost Function Model
Chapter 6. Analysis of Transit Productivity and Efficiency
6.1. Concepts of Efficiency and Productivity
6.2. Performance Indicators Analysis
6.3. Cost and Production Function-Based Partial and Full Factor Productivity Measures
6.4. Alternative Methodologies for Measuring Transit Productivity
6.5. A Market Equilibrium Model of Transit Productivity Measurement
6.6. Principal Factors Affecting Transit Productivity Changes
PART THREE: TRANSIT REGULATORY REFORM POLICIES AND PROSPECTS
Chapter 7. Theoretical Foundations of Transit Regulatory Reform Perspectives
7.1. The Political-Economy Context of Regulatory Reform
7.2. Transit Regulatory Reform Policies
7.3. Regimes of Transit Regulatory Reform Policies
Chapter 8. Transit Deregulation and Market Structure
8.1. Working Definition of a Transit Market Deregulation Policy
8.2. Transit Market Contestability
8.3. Analysis of Entry Deterrence in Deregulated Transit Markets
8.4. Structure of Deregulated Transit Markets
Chapter 9. Lessons from Transit Deregulation and Privatization Policies
9.1. Evaluation of Results from Transit Regulatory Reforms
9.2. The U.K. Transit Deregulation
9.3. The U.S.A. Inter-Urban Bus Deregulation
9.4. Regulatory Reforms in Other Countries
Chapter 10. Competitive Tendering as a Transit Policy Option
10.1. Forms of Competitive Tendering
10.2. Competitive Tendering: Theoretical Foundations and Problems
10.3. Operating Franchises
10.4. Experience from Competitive Tendering in Public Transit
Chapter 11. Proposed Transit Policy Regimes
11.1. A Comparison of Transit Policy Options
11.2. Proposed Transit Policy Regimes For Transit Markets
Public Transit Economics and Deregulation Policy
( Studies in Regional Science and Urban Economics )
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