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Marginal Railway Renewal Costs: A Survival Data Approach

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Abstract

In this paper, renewal costs for railway tracks are investigated using survival analysis. The purpose is to derive the effect from increased traffic volumes on rail renewal cycle lengths and to calculate associated marginal costs. A flow sample of censored data containing almost 1 500 observations on the Swedish main railway network is used. We specify Weibull accelerated failure time regression models, and estimate deterioration elasticities for total tonnage as well as for passenger and freight tonnages separately. Marginal costs are calculated as a change in present values of renewal costs from premature renewal following increased traffic volumes.

Suggested Citation

  • Andersson, Mats, 2007. "Marginal Railway Renewal Costs: A Survival Data Approach," Working Papers 2007:10, Swedish National Road & Transport Research Institute (VTI).
    • Handle: RePEc:hhs:vtiwps:2007_010
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    File URL: http://www.transportportal.se/SWoPEc/MA_Survival_Analysis.pdf
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    More about this item

    Keywords

    Railway; Renewal; Survival analysis; Marginal costs;
    All these keywords.

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • 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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