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An Experimental Comparison of Track Allocation Mechanisms in the Railway Industry

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  • Gunnar Isacsson
  • Jan-Eric Nilsson

Abstract

The capacity of railway tracks is a scarce commodity that is, by nature, more complex than many other commodities. This paper presents results from a series of economic testbed experiments on the performance of different auctioning mechanisms for allocating track capacity between competing users. The auction mechanism will not only decide the price, it also serves to define the commodities (the particular departure-arrival time slots) demanded, and selects which of these are sold. Four combinations of pricing and stopping rules are compared. Realised allocations are very efficient for all four combinations and also generate approximately equal revenue. The research provides input for the process of re-regulating an industry undergoing profound institutional change. © The London School of Economics and the University of Bath 2003

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  • Gunnar Isacsson & Jan-Eric Nilsson, 2003. "An Experimental Comparison of Track Allocation Mechanisms in the Railway Industry," Journal of Transport Economics and Policy, University of Bath, vol. 37(3), pages 353-381, September.
    • Handle: RePEc:tpe:jtecpo:v:37:y:2003:i:3:p:353-381
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    Cited by:

    1. de Jong, Gerard, 2012. "Application of experimental economics in transport and logistics," European Transport \ Trasporti Europei, ISTIEE, Institute for the Study of Transport within the European Economic Integration, issue 50, pages 1-3.
    2. Jose Holguín-Veras & Ning Xu & Gerard Jong & Hedi Maurer, 2011. "An Experimental Economics Investigation of Shipper-carrier Interactions in the Choice of Mode and Shipment Size in Freight Transport," Networks and Spatial Economics, Springer, vol. 11(3), pages 509-532, September.
    3. Stojadinović, Nikola & Bošković, Branislav & Trifunović, Dejan & Janković, Slađana, 2019. "Train path congestion management: Using hybrid auctions for decentralized railway capacity allocation," Transportation Research Part A: Policy and Practice, Elsevier, vol. 129(C), pages 123-139.

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