This paper outlines and critically evaluates a property rights driven model devised by Lein, Moore and Reja (1997) to guide the economic organization of urban public transport in a regime of full privatization and deregulation. Some extensions to the model are also provided to address some matters underplayed in the model, in particular, the role of kerbside rights auction receipts. It is posited that these could, in principle, be recycled to fund a rolling programme of bus lanes, and thus stimulate a virtuous cycle of increasing ridership as a direct consequence of improved trip times and reliability.
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Paper provided by Portsmouth University - Department of Economics in its series Papers with number
104.
Find related papers by JEL classification: R4 - Urban, Rural, and Regional Economics - - Transportation Systems R41 - Urban, Rural, and Regional Economics - - Transportation Systems - - - Transportation: Demand, Supply, and Congestion R42 - Urban, Rural, and Regional Economics - - Transportation Systems - - - Government and Private Investment Analysis
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