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Pricing in a Deregulated Environment: The Motor Carrier Experience

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  • John S. Ying
  • Theodore E. Keeler

Abstract

A major policy goal of the Motor Carrier Act of 1980 was to provide the shipping public with more efficient truck freight rates. Unlike previous studies, which have focused on intrastate reforms or highly aggregated data, this article analyzes dynamically the effects of the act on the freight rates of Class I and II common carriers of general freight. In addition to estimating rate equations, we have estimated cost functions to derive reliable measures of marginal cost. The specified rate equation also includes variables expected to affect the elasticity of demand. Simulations indicate that deregulation has reduced rates from the very beginning and that the effect has grown over time. By 1983, reductions are conservatively in the 15-20% range and in the 25-35% range by 1985.

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Bibliographic Info

Article provided by The RAND Corporation in its journal RAND Journal of Economics.

Volume (Year): 22 (1991)
Issue (Month): 2 (Summer)
Pages: 264-273

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Handle: RePEc:rje:randje:v:22:y:1991:i:summer:p:264-273

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Cited by:
  1. Martin Gaynor & Gerard F. Anderson, 1995. "Uncertain Demand, The Structure of Hospital Costs, and the Cost of EmptyHospital Beds," NBER Working Papers 4460, National Bureau of Economic Research, Inc.
  2. Benjamin Bridgman & Shi Qi & James Schmitz, 2006. "Does Regulation Reduce Productivity? Evidence From Regulation of the U.S. Beet-Sugar Manufacturing Industry During the Sugar Acts, 1934-74," 2006 Meeting Papers 438, Society for Economic Dynamics.

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