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Cost And Revenue Inefficiencies In The European Railways

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Author Info

  • José Manuel Pastor Monsálvez

    (Instituto Valenciano de Investigaciones Económicas)

  • Lorenzo Serrano Martínez

    (Instituto Valenciano de Investigaciones Económicas)

  • Pedro Cantos

    (Universitat de València)

Abstract

This study analyses cost and revenue inefficiencies for a sample of European railway companies. On the basis of a DEA model we calculate cost and revenue inefficiencies, decomposing them into inefficiencies of a technical or allocative type. It is observed that inefficiencies in revenues are greater than those in costs, indicating that the study of inefficiencies in costs is only a partial analysis of the problem. Also, technical inefficiencies are greater than the allocative type. Finally, the most independent companies, with least external intervention in their decisions, are also the most efficient in both costs and revenue. Éste trabajo analiza las ineficiencias en costes y en ingresos de una muestra decompañías ferroviarias europeas. Los indicadores de eficiencia en costes y en ingresosse calculan utilizando la técnica DEA y se descomponen en sus en ineficiencias técnicasy asignativas. Los resultados indican que las ineficiencias en ingresos son mayores quelas ineficiencias en costes, indicando que el estudio de las ineficiencias en costesconstituye un análisis parcial del problema. Asimismo, las ineficiencias técnicas sonmayores que las de tipo asignativo. Finalmente, las compañías más independientes, conmenor intervención externa en sus decisiones, son también las mas eficientes en costes yen ingresos.

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File URL: http://www.ivie.es/downloads/docs/wpasec/wpasec-2002-10.pdf
File Function: Fisrt version / Primera version, 2002
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Bibliographic Info

Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie EC with number 2002-10.

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Length: 33 pages
Date of creation: May 2002
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasec:2002-10

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Related research

Keywords: Ineficiencias en costes; ineficiencias en ingresos y Compañías ferroviarias europeas. Cost Inefficiency; Revenue Inefficiency and European Railways.;

References

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  1. Gathon, H.-J. & Pestieau, P., . "Decomposing efficiency into its managerial and its regulatory components: The case of European railways," CORE Discussion Papers RP -1133, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Cornwell, C. & Schmidt, P., 1993. "Production Frontiers and Efficiency Measurement," Papers 427e, Georgia - College of Business Administration, Department of Economics.
  3. Berger, Allen N. & Mester, Loretta J., 1997. "Inside the black box: What explains differences in the efficiencies of financial institutions?," Journal of Banking & Finance, Elsevier, vol. 21(7), pages 895-947, July.
  4. Ferrier, Gary D. & Lovell, C. A. Knox, 1990. "Measuring cost efficiency in banking : Econometric and linear programming evidence," Journal of Econometrics, Elsevier, vol. 46(1-2), pages 229-245.
  5. Bauer, Paul W. & Hancock, Diana, 1993. "The efficiency of the Federal Reserve in providing check processing services," Journal of Banking & Finance, Elsevier, vol. 17(2-3), pages 287-311, April.
  6. Rogers, Kevin E., 1998. "Nontraditional activities and the efficiency of US commercial banks," Journal of Banking & Finance, Elsevier, vol. 22(4), pages 467-482, May.
  7. Cantos, Pedro & Maudos, Joaqui­n, 2001. "Regulation and efficiency: the case of European railways," Transportation Research Part A: Policy and Practice, Elsevier, vol. 35(5), pages 459-472, June.
  8. Fare, Rolf & Knox Lovell, C. A., 1978. "Measuring the technical efficiency of production," Journal of Economic Theory, Elsevier, vol. 19(1), pages 150-162, October.
  9. Ann F. Friedlaender & Ernst R. Berndt & Judy Shaw-Er Wang Chiang & Mark Showalter & Christopher A. Vellturo, 1991. "Rail Costs and Capital Adjustments in a Quasi-Regulated Environment," NBER Working Papers 3841, National Bureau of Economic Research, Inc.
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Citations

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Cited by:
  1. Pavlyuk, Dmitry, 2008. "An Efficiency Analysis of European Countries' Railways," MPRA Paper 20922, University Library of Munich, Germany.
  2. Ana Rodríguez Álvarez & Víctor Fernández Blanco & José Baños Pino, 2005. "El efecto de la regulación sobre la eficiencia productiva: una aplicación a las compañías ferroviarias europeas," Investigaciones Economicas, Fundación SEPI, vol. 29(2), pages 351-378, May.
  3. Rico Merkert, 2003. "Die Liberalisierung des schwedischen Eisenbahnwesens - Ein Beispiel vertikaler Trennung von Netz und Transportbetrieb -," Volkswirtschaftliche Diskussionsbeiträge 62, Universität Potsdam, Wirtschafts- und Sozialwissenschaftliche Fakultät.
  4. Subal Kumbhakar & Luis Orea & Ana Rodríguez-Álvarez & Efthymios Tsionas, 2007. "Do we estimate an input or an output distance function? An application of the mixture approach to European railways," Journal of Productivity Analysis, Springer, vol. 27(2), pages 87-100, April.
  5. Christian Growitsch & Heike Wetzel, 2006. "Economies of Scope in European Railways: An Efficiency Analysis," Working Paper Series in Economics 29, University of Lüneburg, Institute of Economics.

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