Restructuring Regulation of the Railroad Industry
Throughout the world, the rail industry has been one of the most heavily regulated sectors. The public utility paradigm of government regulation has failed to handle the central regulatory problem--the mixture of competive and monopoly elements in supply-- and is now being blamed for the poor financial condition of the railroads, for the deterioration of rail plant, for the lack of innovation, and for the mediocre quality of rail services. This Note outlines a set of principles, called constrained market pricing, for regulatory reform in the public interest and considers their implications for railroad restructuring.
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| Main Authors: | , |
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| Format: | Viewpoint biblioteca |
| Language: | English |
| Published: |
World Bank, Washington, DC
1995-10
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| Subjects: | ECONOMIC WELFARE, ECONOMIES OF SCALE, ELASTICITY, FIXED COSTS, GOVERNMENT INTERVENTION, MARGINAL COST, MARGINAL COST PRICING, MARGINAL COSTS, MARKET POWER, MARKET PRICING, NATURAL MONOPOLY, NETWORK INFRASTRUCTURE, OPPORTUNITY COSTS, PRICE CEILINGS, PRODUCTION COSTS, PROFIT MOTIVE, PUBLIC POLICY, REGULATORY FRAMEWORK, REPLACEMENT COSTS, REVENUE ADEQUACY, SUNK COSTS, THIN MARKETS, TOTAL COSTS, TRANSPORT RAILWAYS, RAILWAY INFRASTRUCTURE, GOVERNMENT REGULATION, PRICES, PRICE POLICY, MARKET COMPETITION, CONTESTABILITY, |
| Online Access: | http://documents.worldbank.org/curated/en/1995/10/697016/restructuring-regulation-railroad-industry http://hdl.handle.net/10986/11650 |
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