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The Literature on Railway Rate Theory

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  • D. Philip Locklin

Abstract

I. Railway rate theory developed to explain and justify rates not based on cost, 168.— Early analysis an overhead-cost theory, 173.— Terminology, 174.— Development of overhead-cost theory, 178.— Joint-cost explanation, 182.— Criticism of the analogy, 184.— Monopoly explanation, 185.— Grouping of later writers, 186.— The attack on the joint-cost theory, 189.— Back hauls, 197.— Defenders of the joint-cost theory, 199.— Classification of recent writers, 203.— Discrimination not always possible, 206. II. Do preferential rates burden other traffic? 208.— Charging what the traffic will bear and monopoly profits, 214.— Value of service leading to excessive rates, 220.— Arguments for cost of service, 224.— Are cost allocations practicable? 225.— The assumption of unused capacity, 228.— Differential charging will persist, 229.

Suggested Citation

  • D. Philip Locklin, 1933. "The Literature on Railway Rate Theory," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 47(2), pages 167-230.
    • Handle: RePEc:oup:qjecon:v:47:y:1933:i:2:p:167-230.
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    Cited by:

    1. Rossi, Enrico, 2020. "Reconsidering the dual nature of property rights: personal property and capital in the law and economics of property rights," LSE Research Online Documents on Economics 105840, London School of Economics and Political Science, LSE Library.
    2. Leonardo J. Basso & Sergio R. Jara-Díaz & William G. Waters, 2011. "Cost Functions for Transport Firms," Chapters, in: André de Palma & Robin Lindsey & Emile Quinet & Roger Vickerman (ed.), A Handbook of Transport Economics, chapter 12, Edward Elgar Publishing.
    3. R. A. Edwards, 1998. "Is management accounting just what management accountants do? Implicit cost analysis on Britain's railways c.1923-1939," Accounting History Review, Taylor & Francis Journals, vol. 8(3), pages 331-349.
    4. Waters II, William G., 2007. "Evolution of Railroad Economics," Research in Transportation Economics, Elsevier, vol. 20(1), pages 11-67, January.

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