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...
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| Format: | Viewpoint |
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World Bank, Washington, DC
2012
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| 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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okr-10986-116502021-06-14T11:04:25Z Restructuring Regulation of the Railroad Industry Kessides, Ioannis N. Willig, Robert D. 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 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. 2012-08-13T15:38:02Z 2012-08-13T15:38:02Z 1995-10 http://documents.worldbank.org/curated/en/1995/10/697016/restructuring-regulation-railroad-industry Viewpoint. -- Note no. 58 (October 1995) http://hdl.handle.net/10986/11650 English Viewpoint CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Viewpoint Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
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 |
| spellingShingle |
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 Kessides, Ioannis N. Willig, Robert D. Restructuring Regulation of the Railroad Industry |
| relation |
Viewpoint |
| description |
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. |
| format |
Publications & Research :: Viewpoint |
| author |
Kessides, Ioannis N. Willig, Robert D. |
| author_facet |
Kessides, Ioannis N. Willig, Robert D. |
| author_sort |
Kessides, Ioannis N. |
| title |
Restructuring Regulation of the Railroad Industry |
| title_short |
Restructuring Regulation of the Railroad Industry |
| title_full |
Restructuring Regulation of the Railroad Industry |
| title_fullStr |
Restructuring Regulation of the Railroad Industry |
| title_full_unstemmed |
Restructuring Regulation of the Railroad Industry |
| title_sort |
restructuring regulation of the railroad industry |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/1995/10/697016/restructuring-regulation-railroad-industry http://hdl.handle.net/10986/11650 |
| _version_ |
1764417506000240640 |