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Railroad Property Valuation Using Data Envelopment Analysis

Author

Listed:
  • Donald L. Adolphson

    (Graduate School of Management, Brigham Young University, Provo, Utah 84602)

  • Gary C. Cornia

    (Graduate School of Management, Brigham Young University, Provo, Utah 84602)

  • Lawrence C. Walters

    (Political Science Department, Brigham Young University, Provo, Utah 84602)

Abstract

Railroad companies in the United States pay hundreds of millions of dollars in property tax each year. Railroad and tax officials often disagree about the appraisal methodology as well as the appraised value of railroads. A frequent area of disagreement is in the measurement of obsolescence, defined as the reduction in value due to changing economic conditions or design limitations. Current methods of measuring obsolescence in railroads systematically overestimate obsolescence. Data envelopment analysis (DEA) can be used to obtain a better measure of obsolescence. The states of Utah and Wisconsin have adopted the DEA method of measuring obsolescence.

Suggested Citation

  • Donald L. Adolphson & Gary C. Cornia & Lawrence C. Walters, 1989. "Railroad Property Valuation Using Data Envelopment Analysis," Interfaces, INFORMS, vol. 19(3), pages 18-26, June.
    • Handle: RePEc:inm:orinte:v:19:y:1989:i:3:p:18-26
    DOI: 10.1287/inte.19.3.18
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    Cited by:

    1. Morano, Pierluigi & Tajani, Francesco, 2018. "Saving soil and financial feasibility. A model to support public-private partnerships in the regeneration of abandoned areas," Land Use Policy, Elsevier, vol. 73(C), pages 40-48.
    2. Pierluigi Morano & Paolo Rosato & Francesco Tajani & Benedetto Manganelli & Felicia Di Liddo, 2019. "Contextualized Property Market Models vs. Generalized Mass Appraisals: An Innovative Approach," Sustainability, MDPI, vol. 11(18), pages 1-28, September.
    3. Laurent Cavaignac & Romain Petiot, 2016. "A Quarter Century of Data Envelopment Analysis Applied to the Transport Sector: A Bibliometric Analysis," Post-Print hal-02395215, HAL.
    4. Cavaignac, Laurent & Petiot, Romain, 2017. "A quarter century of Data Envelopment Analysis applied to the transport sector: A bibliometric analysis," Socio-Economic Planning Sciences, Elsevier, vol. 57(C), pages 84-96.
    5. Bookbinder, James H. & Qu, Wendy W., 1992. "Comparing the Performance of major Noth-American roads," Transportation Research Forum Proceedings 1990s 311866, Transportation Research Forum.
    6. Changhee Kim & Soo Wook Kim & Hee Jay Kang & Seung-Min Song, 2017. "What Makes Urban Transportation Efficient? Evidence from Subway Transfer Stations in Korea," Sustainability, MDPI, vol. 9(11), pages 1-18, November.
    7. Tomikawa, Tadaaki & Goto, Mika, 2022. "Efficiency assessment of Japanese National Railways before and after privatization and divestiture using data envelopment analysis," Transport Policy, Elsevier, vol. 118(C), pages 44-55.
    8. Thiago Victorino & Carlos Rosano Peña, 2023. "The Development of Efficiency Analysis in Transportation Systems: A Bibliometric and Systematic Review," Sustainability, MDPI, vol. 15(13), pages 1-32, June.

    More about this item

    Keywords

    transportation: rail; finance: taxation;

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