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Rate-of-Return and Price-Cap Regulations for Urban Railways

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Author Info

  • Kidokoro, Y.

Abstract

We buid a simple model of commuter railways where congestion exists, show that price-cap (PC) regulation causes congestion compared to rate-of-return (ROR) regulation. We next consider methods to correct it, and show the following results: (i) PC regulation, in which the cap is made contingent on congestion, can correct the congestion without distorting cost-reducing efforts, (ii) PC regulation, in which the cap depends on investment in transportation capacity, can also correct the congestion but distorts cost-reducing efforts. We demonstrate these results by simulation, based on data from the Tokyu To-Yoko line in the Tokyo Metropolitan Area.

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Bibliographic Info

Paper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0449.

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Length: 50 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:dpr:wpaper:0449

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Keywords: REGULATIONS ; TRAFFIC ; RAILWAYS;

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Cited by:
  1. Kidokoro, Yukihiro, 2006. "Regulatory reform and the congestion of urban railways," Transportation Research Part A: Policy and Practice, Elsevier, vol. 40(1), pages 52-73, January.

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