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Pricing and Investment Policies in a System of Competitive Commuter Railways

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  • Yoshitsugu Kanemoto

Abstract

This paper develops a simple spatial equilibrium model of a city served by competing commuter railways and analyses the effects of different transportation policies on their pricing and investment decisions. It is shown that a system of competitive railway companies does not achieve the optimal allocation. We then examine whether or not three types of government intervention, i.e. subsidies to railway companies, a rate-of-return regulation, and the ownership of residential land by railway companies, can achieve the optimal allocation.

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  • Yoshitsugu Kanemoto, 1984. "Pricing and Investment Policies in a System of Competitive Commuter Railways," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 51(4), pages 665-681.
    • Handle: RePEc:oup:restud:v:51:y:1984:i:4:p:665-681.
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    File URL: http://hdl.handle.net/10.2307/2297785
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    Cited by:

    1. Jacques-François Thisse & Gilles Duranton, 1996. "La politique foncière dans une économie spatiale," Revue Économique, Programme National Persée, vol. 47(2), pages 227-261.
    2. Ahmed, Abu Nur Rashed & Yoshida, Yuichiro & Arnott, Richard James, 2022. "A new way of evaluating the optimality of a transportation improvement in a class of urban land use models," Journal of Urban Economics, Elsevier, vol. 128(C).
    3. Kuroda, Tatsuaki & Miyazawa, Kazutoshi, 2002. "Railways competition in a park-and-ride model," ERSA conference papers ersa02p122, European Regional Science Association.
    4. Duranton, Gilles & Deo, Stephane, 1999. "Financing Productive Local Public Goods," Journal of Urban Economics, Elsevier, vol. 45(2), pages 264-286, March.
    5. Zubieta, Lourdes, 1998. "A network equilibrium model for oligopolistic competition in city bus services," Transportation Research Part B: Methodological, Elsevier, vol. 32(6), pages 413-422, August.
    6. Kanemoto, Yoshitsugu & Kiyono, Kazuharu, 1995. "Regulation of commuter railways and spatial development," Regional Science and Urban Economics, Elsevier, vol. 25(4), pages 377-394, August.
    7. Yuichiro Yoshida & Abu Nur Rashed Ahmed, 2013. "Optimal Transportation Network in a Closed City under Residential and Absentee Land Ownerships," GRIPS Discussion Papers 12-23, National Graduate Institute for Policy Studies.
    8. Zhi-Chun Li & De-Ping Yu & André de Palma, 2024. "Bottleneck congestion and urban spatial structure with heterogeneous households: Equilibrium, capacity expansion and congestion tolling," THEMA Working Papers 2024-04, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    9. Dröes, Martijn I. & Rietveld, Piet, 2015. "Rail-based public transport and urban spatial structure: The interplay between network design, congestion and urban form," Transportation Research Part B: Methodological, Elsevier, vol. 81(P2), pages 421-439.

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