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Pricing Issues in the Deregulation of Railroad Rates

In: Economic Analysis of Regulated Markets

Author

Listed:
  • William J. Baumol
  • Robert D. Willig

Abstract

This chapter is addressed to the central pricing issues involved in partial deregulation of railroad rates. It enunciates principles to guide regulatory oversight of the rate setting of unsubsidized railroads — principles that are consistent with economic analysis and that are essential for protection of the public interest. The paper is largely motivated by the Staggers Rail Act, recently passed by the Congress of the United States, which mandates both an end to periodic Federal subsidies to railroads and continuing regulatory oversight of railroad rates. Nevertheless, the principles espoused here are equally germane wherever partial deregulation of railroads, or other utilities, is at issue.

Suggested Citation

  • William J. Baumol & Robert D. Willig, 1983. "Pricing Issues in the Deregulation of Railroad Rates," Palgrave Macmillan Books, in: Jörg Finsinger (ed.), Economic Analysis of Regulated Markets, chapter 2, pages 11-47, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-17099-9_2
    DOI: 10.1007/978-1-349-17099-9_2
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    Cited by:

    1. Schmidt, Stephen, 2001. "Market structure and market outcomes in deregulated rail freight markets," International Journal of Industrial Organization, Elsevier, vol. 19(1-2), pages 99-131, January.
    2. John W. Mayo & David E. M. Sappington, 2016. "Regulation in a ‘Deregulated’ Industry: Railroads in the Post-Staggers Era," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 49(2), pages 203-227, September.

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