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Estimating the Value of Guaranteed Rail Service

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  • Pautsch, Gregory R.
  • Babcock, Bruce A.
  • Baumel, C. Phillip

Abstract

The purpose of this research is to develop a framework to estimate the value of guaranteed rail service to grain shippers. The analysis consists of estimating density functions for the days waiting for conventional tariff service. A shipper loss function for waiting for rail service was also estimated. Three qualitative results were established. First, the value of guaranteed rail service increases as the quality of guaranteed service rises. Second, the value of guaranteed rail service increases as conventional tariff service becomes less reliable. Finally, when grain is stored on the ground, the value of guaranteed rail service increases.

Suggested Citation

  • Pautsch, Gregory R. & Babcock, Bruce A. & Baumel, C. Phillip, 1996. "Estimating the Value of Guaranteed Rail Service," ISU General Staff Papers 199601010800001568, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:199601010800001568
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    Cited by:

    1. Vachal, Kimberly & Bitzan, John, 2000. "The Long-Term Availability of Railroads Services for U.S. Agriculture," UGPTI Department Publication 231803, North Dakota State University, Upper Great Plains Transportation Institute.

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