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Open access for railways and transaction cost economics – Management perspectives of Australia's rail companies

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  • Merkert, Rico
  • Hensher, David A.

Abstract

With the aim to improve efficiency and value for money, in addition to tendered services the European Commission approach to rail organisation allows substantial open access rail services in both passenger and freight operations. This paper investigates, from a transaction cost perspective, whether the European approach is applicable to the Australian context, and more generally to all regions and types of operation. A key focus of this paper is on vertically integrated railways owned by mining companies who are increasingly encouraged to provide open access to their competitors. In addition to the policy perspective, our discussion also includes the views of senior rail managers.

Suggested Citation

  • Merkert, Rico & Hensher, David A., 2014. "Open access for railways and transaction cost economics – Management perspectives of Australia's rail companies," Research in Transportation Economics, Elsevier, vol. 48(C), pages 227-236.
    • Handle: RePEc:eee:retrec:v:48:y:2014:i:c:p:227-236
    DOI: 10.1016/j.retrec.2014.09.048
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    Cited by:

    1. Andersson, Matts & Hultén, Staffan, 2016. "Transaction and transition costs during the deregulation of the Swedish Railway market," Research in Transportation Economics, Elsevier, vol. 59(C), pages 349-357.

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    More about this item

    Keywords

    Railways; Open access; Competition; Train operation/rail infrastructure interface; Supply chain integration;
    All these keywords.

    JEL classification:

    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation
    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy

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