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Contestability in UK rail freight markets : The economics of open access

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  • Brewer, Peter R

Abstract

This paper attempts to apply the theory of contestable markets to rail freight markets, against the background of the privatisation of British Rail and the promotion of greater competition in the railway sector. It concludes that rail freight markets are likely to be imperfectly contestable, and the impact of potential competition relatively small. However, problems involved with concepts such as sunk costs suggest that it would be impossible for an empirical evaluation of rail freight markets to satisfy the full requirements of the theory.

Suggested Citation

  • Brewer, Peter R, 1996. "Contestability in UK rail freight markets : The economics of open access," Transport Policy, Elsevier, vol. 3(3), pages 91-98, July.
    • Handle: RePEc:eee:trapol:v:3:y:1996:i:3:p:91-98
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    References listed on IDEAS

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    1. Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
    2. John Vickers & George Yarrow, 1988. "Privatization: An Economic Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262720116, December.
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    1. Laroche, Florent & Sys, Christa & Vanelslander, Thierry & Van de Voorde, Eddy, 2017. "Imperfect competition in a network industry: The case of the European rail freight market," Transport Policy, Elsevier, vol. 58(C), pages 53-61.

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