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Allocation in Surface Freight Transportation: Does Rate Regulation Matter?

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  • Richard C. Levin

Abstract

This paper reexamines a familiar problem in the literature of transportation economics: the impact of ICC rate regulation on the allocation of surface freight traffic among competing modes. A multinomial logit model is used to estimate the division of traffic manufactured commodities among truck, rail boxcar, and piggyback. The extent of misallocation attributable to regulatory rate distortion is found to be substantially less than reported in previous studies.

Suggested Citation

  • Richard C. Levin, 1978. "Allocation in Surface Freight Transportation: Does Rate Regulation Matter?," Bell Journal of Economics, The RAND Corporation, vol. 9(1), pages 18-45, Spring.
  • Handle: RePEc:rje:bellje:v:9:y:1978:i:spring:p:18-45
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    Citations

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    Cited by:

    1. Wilson, William W., 1984. "Estimation Of Modal Demand Elasticities In Grain Transportation," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(2), pages 1-15, December.
    2. Waters II, William G., 2007. "Evolution of Railroad Economics," Research in Transportation Economics, Elsevier, vol. 20(1), pages 11-67, January.
    3. Wilson, William W., 1982. "Estimation of Demand Elasticities for Transportation Modes in Grain Transportation," Agricultural Economics Reports 23266, North Dakota State University, Department of Agribusiness and Applied Economics.
    4. Pesch, Michael J. & Larson, Donald W., 1981. "Factors Associated With Grain Rail Rates In Three U.S. Rate Territories," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279241, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Paul L. Joskow & Roger G. Noll, 1981. "Regulation in Theory and Practice: An Overview," NBER Chapters, in: Studies in Public Regulation, pages 1-78, National Bureau of Economic Research, Inc.
    6. Kessides, Ioannis N. & Willig, Robert D., 1995. "Restructuring regulation of the rail industry for the public interest," Policy Research Working Paper Series 1506, The World Bank.
    7. Babcock, Michael W. & German, Wade, 1982. "Forecast of Agricultural Rail Demand to 1985," Transportation Research Forum Proceedings 1980s 311554, Transportation Research Forum.
    8. Jourquin, Bart & Beuthe, Michel, 2019. "Cost, transit time and speed elasticity calculations for the European continental freight transport," Transport Policy, Elsevier, vol. 83(C), pages 1-12.
    9. Richard C. Levin, 1981. "Regulation, Barriers to Exit, and the Investment Behavior of Railroads," NBER Chapters, in: Studies in Public Regulation, pages 181-230, National Bureau of Economic Research, Inc.
    10. Babcock, Michael W. & German, H. Wade, 1986. "Impact of Transportaion Policy on intermodal competition," Transportation Research Forum Proceedings 1980s 311847, Transportation Research Forum.
    11. Johnson, Marc A., 1981. "Impacts On Agriculture Of Deregulating The Transportation System," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279412, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    12. David P. Baron, 1978. "Price Regulation, Quality, and Asymmetric Information," Discussion Papers 359, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    13. Lucy Ferguson, 1979. "Regulation and Innovation: The Case of Piggybacking," Eastern Economic Journal, Eastern Economic Association, vol. 5(4), pages 453-462, December.
    14. Babcock, Michael W. & German, Wade, 1983. "1985 Forecast: Rial share of intercity manufacturers freight markets," Transportation Research Forum Proceedings 1980s 311633, Transportation Research Forum.

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