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2007 | Buch

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Essays on Transport Economics

herausgegeben von: Prof. Dr. Pablo Coto-Millán, Prof. Dr. Vicente Inglada

Verlag: Physica-Verlag HD

Buchreihe : Contributions to Economics

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Technik" , Springer Professional "Wirtschaft"

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An analysis of the history of economic thought reveals that transport and econ- ics have always gone hand-in-hand. Many methodological developments in e- nomic theory have emerged from the sphere of transport; Jules Dupuit (1849) and Arthur C. Pigou (1912), for example, proposed price setting in transport inf- structures, particularly on congested roads. This issue is referred to in economic literature as optimum price setting and is still the subject of much attention even today. It is difficult to imagine how the transcendental change in economic dev- opment brought about by the industrial revolution would have occurred without the invention of the railway. Today’s "new economics", which is for some an - novative concept in economic science, is also closely linked to transport. However, not only is transport present in the entire economic tissue, it is also a key element in individual behaviour, revealed in decisions about work, place of residence and location of companies, among others. One characteristic of transport is that it is a service that can also be used as an intermediary factor in the production process or form part of final household c- sumption. Studies on this sector therefore have a number of dimensions. As it encompasses a number of branches of economic theory, the study of transport from an economic point of view is an ideal test bench for applying the methodological developments of economic science to the real world.

Inhaltsverzeichnis

Frontmatter

Introduction

Demand

Frontmatter

1. A Reassessment of the Characterisation of Congestion on an Urban Road Network — Some Theoretical Suggestions and Illustrative Experiments

1.6 Conclusions

In this paper we have developed an alternative approach for analysing the phenomenon of congestion within an urban road network. The framework differs from the traditional approach in that it separates out the speed and the density components in the flow variable and uses these to define the ‘price’ and ‘quantitity’ levels of travel demand and supply on a particular link. Having separated out the price and quantity components in demand and supply, we set out a theoretical model to represent the individual demand behaviour for travel activity across a link, based on the concept of a household production function, using a (congested) public infrastructure good (road capacity).

The theoretical approach differs from previous contributions where congestion is usually analysed as an externality rather than in terms of household production using a congested public good. Even though the concept of externality and public goods are closely related, the analysis based on the former concept allows us to see more clearly the role of public infrastructure pricing and investment decisions than mere externality analysis.

The proposed approach lays down the basic foundations for extending the analysis into a more complex road network structure, drawing on economic equilibrium analysis (analogous to the concept of general equilibrium in conventional economic analysis). We have illustrated the applicability and feasibility of the approach for a simple network of two parallel links.

Truong P. Truong, David A. Hensher

2. Estimation of the Economic Value of Student Urban Travel Time

2.4 Summary and Conclusions

The values of saving in the time spent in journeys to study locations range from 3.04 €/hour for students with low preference for leisure (α=0), to 1.35 €/hour for students with very high preference for leisure.

The estimated coefficients of supply variables are affected by negative signs, results which are intuitively appropriate and show us that an increase in variable private vehicle times and costs difference with respect to bus will decrease the probability to travel by private vehicle. On the other hand, the socio-economic variables reveal that younger men have more probability to travel by private car than women and older people. The annex shows that, statistics improve if we eliminate socio-economic, age and sex variables from our model.

Pablo Coto-Millán, Vicente Inglada, Miguel A. Pesquera, Rubén Sainz, Nuria Sánchez

3. Price and Income Elasticities for Intercity Public Transport in Spain

3.5 Conclusions

The previous models, based on the conventional demand theory, provide us with empirical evidence for road, railway and air transport in Spain from 1980 to 1988. We obtain the Marshallian demand functions with respect to relevant income and price variables for each modes of transport analyzed. In this work we offer income and price elasticities estimations as well as exchange of data aggregated to interurban passengers transport in Spain. It is necessary to be cautious when interpreting data, due to the high variable aggregation. Some research could be made in the future on this type of model from the desagregation of transport service demand into different lines.

Pablo Coto-Millán, Jose Baños-Pino, Gema Carrera-Gómez, Juan Castanedo-Galán, Miguel A. Pesquera, Vicente Inglada, Rubén Sainz

Supply and Efficiency

Frontmatter

4. Classifying Urban Passenger Transportation Services

Wayne K. Talley

5. Analysis of the Allocative Efficiency in Public Firms: the Case of Railway

5.11 Summary and Conclusions

This paper discusses whether a public firm such as RENFE satisfies the cost minimization condition. Through the estimation of the shadow prices of the production inputs we obtain the grade of the firm’s allocative inefficiency and its origin.

The methodology used is based on the estimation of a Shephard distance function for the input, the dual of the cost function, which fully represents the technology and is valid for multiproduct and multifactor firms, with which the shadow prices of the inputs may be obtained making unnecessary the use of their market prices.

From the results obtained in this paper, it may be verified that shadow prices are different to market prices and, therefore, the public firm RENFE does not use the productive inputs in the optimal proportion, that is, it does not minimize costs in relation to the market prices. It may be observed that the capital input is being over-utilized in relation to energy, whereas labour is being over-utilized in relation to the rest of the inputs.

Pablo Coto-Millán, Jose Baños-Pino, Ana Rodríguez-Alvarez

6. The Effect of Using Aggregated Output in the Economic Analysis of Cargo Handling Operations

Sergio R. Jara-Díaz, Beatriz Tovar de la Fé, Lourdes Trujillo

7. Scale Economies, Elasticities of Substitution and Behaviour of the Railway Transport Costs in Spain

7.5 Summary and Conclusions

In this paper, we have studied the behaviour of state company RENFE costs from 1964 to 1992. Translog function with the restriction of grade-one homogeneity in the factor prices, has been analized and acceptable results have been obtained for the vehicles-km output. The cost function estimated has an good behaviour since it meets the conditions of monotonicity, quasi concavity and grade-one homogeneity in the factor prices.

The comparison between elasticities support the results in previous research since it can be observed that the Allen elasticities of substitution with respect to the Morishima elasticities, overestimate both the substituibility and complementariety relationships.

The estimations basically find that the industry is characterized by constant returns to scale.

Pablo Coto-Millán, Gema Carrera-Gómez, Vicente Inglada, Ramón Núñez-Sánchez, Juan Castanedo, Miguel A. Pesquera, Rubén Sainz

8. Efficiency Stochastic Frontiers: a Panel Data Analysis for Spanish Airports (1992–1994)

8.5 Conclusions

The most efficient airports are the ones of Madrid, Barcelona, Palma de Mallorca, Malaga, Gran Canaria, Tenerife South, Alicante, Ibiza, Fuerteventura, Menorca and Bilbao.

These airports have the highest traffic of passengers (between 3 million and 19 million).

Airports of medium efficiency are the ones of Tenerife North, Valencia, Seville, Santiago, Almeria, Las Palmas, Asturias, Vigo, Reus, Jerez de la Frontera, Girona and La Coruña. These airports have medium volumes of traffic (between 400 thousand and 3 million).

The airports of Granada, Pamplona, Melilla, San Sebastian, Santander, Zaragoza, Valladolid, Murcia and Hierro have a low efficiency, with volumes of traffic of up to 400 thousand passengers. The airports of Madrid and Barcelona present constant returns to scale because they have extinguished their scale economies as they have achieved their optimum size.

However, the airports of Malaga and Alicante present decreasing returns. A possible reason for this is the strong stationarity in traffics, which requires that airports are big in order to answer to the peaks in demand, while traffics are low the rest of the year.

The remaining airports present increasing returns, as expected. These airports will extinguish their returns to scale economies as they increase the traffic (we have estimated an average increase around 5% during the last 10 years), thus achieving the optimum size.

Pablo Coto-Millán, Gema Carrera-Gómez, Juan Castanedo-Galán, Miguel A. Pesquera, Vicente Inglada, Rubén Sainz, Ramón Núñez-Sánchez

9. Multi-Output Analysis of the Costs and Productivity of Cargo Handling in Spanish Ports

Eduardo Martínez-Budría, Juan José Díaz-Hernández

Market and Economic Impact Studies

Valuation of Benefits and Costs

Transportation Network and Information and Communications Technology

Titel: Essays on Transport Economics
herausgegeben von: Prof. Dr. Pablo Coto-Millán
Prof. Dr. Vicente Inglada
Verlag: Physica-Verlag HD
Electronic ISBN: 978-3-7908-1765-2
Print ISBN: 978-3-7908-1764-5
DOI: https://doi.org/10.1007/978-3-7908-1765-2

Springer Professional

Essays on Transport Economics

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Inhaltsverzeichnis

Frontmatter

Introduction

Introduction

Demand

Frontmatter

1. A Reassessment of the Characterisation of Congestion on an Urban Road Network — Some Theoretical Suggestions and Illustrative Experiments

2. Estimation of the Economic Value of Student Urban Travel Time

3. Price and Income Elasticities for Intercity Public Transport in Spain

Supply and Efficiency

Frontmatter

4. Classifying Urban Passenger Transportation Services

5. Analysis of the Allocative Efficiency in Public Firms: the Case of Railway

6. The Effect of Using Aggregated Output in the Economic Analysis of Cargo Handling Operations

7. Scale Economies, Elasticities of Substitution and Behaviour of the Railway Transport Costs in Spain

8. Efficiency Stochastic Frontiers: a Panel Data Analysis for Spanish Airports (1992–1994)

9. Multi-Output Analysis of the Costs and Productivity of Cargo Handling in Spanish Ports

Market and Economic Impact Studies

Frontmatter

10. Economic Impact Study: Application to Ports

11. Airport Management and Airline Competition in OECD Markets

12. Dynamising Economic Impact Studies: the Case of the Port of Seville

Valuation of Benefits and Costs

Frontmatter

13. Estimating the Economic Benefits of Bicycling and Bicycle Facilities: an Interpretive Review and Proposed Methods

14. Valuation of Transport Externalities by Stated Choice Methods

15. Externalities Analysis of Investments in Infrastructure: a Practical Approach

Transportation Network and Information and Communications Technology

Frontmatter

16. ITS-Based Transport Concepts and Location Preference: Will ITS Change ‘Business as Usual’?

17. The Economics of Transportation Network Growth

18. Transport Network Development and the Location of Economic Activity

19. Mapping the Terrain of Information and Communications Technology (ICT) and Household Travel