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Risk and reward in rail contracting

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  • Alexandersson, Gunnar
  • Nash, Chris
  • Preston, John

Abstract

This workshop considered the role of risks and rewards in rail transport by considering evidence on the impacts of industry structure, franchising and infrastructure charges. A schema for the allocation of risks and rewards was developed, which indicated that strategic risks should be borne by authorities and operational risks by operators, but that tactical risks were more difficult to allocate and appropriate reward mechanisms more difficult to design. The extent to which these difficulties can be addressed by competitive tendering and alternatives such as trusting partnerships and negotiated performance based contracts was considered.

Suggested Citation

  • Alexandersson, Gunnar & Nash, Chris & Preston, John, 2008. "Risk and reward in rail contracting," Research in Transportation Economics, Elsevier, vol. 22(1), pages 31-35, January.
    • Handle: RePEc:eee:retrec:v:22:y:2008:i:1:p:31-35
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    1. Gathon, H. -J. & Pestieau, P., 1995. "Decomposing efficiency into its managerial and its regulatory components: The case of European railways," European Journal of Operational Research, Elsevier, vol. 80(3), pages 500-507, February.
    2. Productivity Commission, 2007. "Financial Performance of Government Trading Enterprises 2004-05 to 2005-06," Research Papers 0702, Productivity Commission, Government of Australia.
    3. Joseph J. Spengler, 1950. "Vertical Integration and Antitrust Policy," Journal of Political Economy, University of Chicago Press, vol. 58(4), pages 347-347.
    4. Pedro Cantos & José Pastor & Lorenzo Serrano, 1999. "Productivity, efficiency and technical change in the European railways: A non-parametric approach," Transportation, Springer, vol. 26(4), pages 337-357, November.
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    Cited by:

    1. Wong, Yale Z. & Hensher, David A., 2018. "The Thredbo story: A journey of competition and ownership in land passenger transport," Research in Transportation Economics, Elsevier, vol. 69(C), pages 9-22.

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