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Optimal fares regulation for Britain's railways

Author

Listed:
  • Whelan, Gerard
  • Batley, Richard
  • Shires, Jeremy
  • Wardman, Mark

Abstract

This paper reports the findings of an economic evaluation of fares regulation options for Britain's railways. The evaluation is based on the development of an econometric demand model based on a large scale survey of passenger preferences. The model was applied to comprehensive case study analysis of candidate fares regulation options based on the notion of a 'fares basket' and it was found that for any given price cap, any specific objective of revenue generation will be attained with lower welfare penalty if the basket is defined widely rather than narrowly.

Suggested Citation

  • Whelan, Gerard & Batley, Richard & Shires, Jeremy & Wardman, Mark, 2008. "Optimal fares regulation for Britain's railways," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 44(5), pages 807-819, September.
    • Handle: RePEc:eee:transe:v:44:y:2008:i:5:p:807-819
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    Citations

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    Cited by:

    1. Toner, Jeremy & Wardman, Mark & Shires, Jeremy & Teklu, Fitsum & Hatfield, Andrew, 2020. "Enhancing rail direct demand models with competition between ticket types using contributions from economic theory and market research," Transportation Research Part A: Policy and Practice, Elsevier, vol. 138(C), pages 127-144.
    2. Kholodov, Yaroslav & Jenelius, Erik & Cats, Oded & van Oort, Niels & Mouter, Niek & Cebecauer, Matej & Vermeulen, Alex, 2021. "Public transport fare elasticities from smartcard data: Evidence from a natural experiment," Transport Policy, Elsevier, vol. 105(C), pages 35-43.
    3. Anciaes, Paulo & Metcalfe, Paul & Heywood, Chris & Sheldon, Rob, 2019. "The impact of fare complexity on rail demand," Transportation Research Part A: Policy and Practice, Elsevier, vol. 120(C), pages 224-238.
    4. Hetrakul, Pratt & Cirillo, Cinzia, 2013. "Accommodating taste heterogeneity in railway passenger choice models based on internet booking data," Journal of choice modelling, Elsevier, vol. 6(C), pages 1-16.
    5. Xinyu Zhuang & Li Zhang & Jie Lu, 2022. "Past—Present—Future: Urban Spatial Succession and Transition of Rail Transit Station Zones in Japan," IJERPH, MDPI, vol. 19(20), pages 1-35, October.

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