About the Author | p. xi |
Acknowledgements | p. xiii |
Introduction | p. 1 |
Transport Market Dynamics | |
Market Demand | p. 5 |
Transport as a Derived Demand | p. 5 |
Factors Determining Demand | p. 6 |
Urban Bus Operations | p. 15 |
Demand Patterns Not Influenced by Operators | p. 17 |
Operator Attempts to Influence Demand | p. 20 |
Peak Demand | p. 21 |
References | p. 34 |
Elasticity of Demand | p. 36 |
Price Elasticity of Demand | p. 36 |
Transatlantic Fares | p. 37 |
Coach/Rail Competition | p. 39 |
London Commuters | p. 50 |
The Measurement of Price Elasticity | p. 57 |
Income Elasticity | p. 64 |
Service Elasticity | p. 70 |
Analysis of Eurostar and Eurotunnel Markets, 1992-97 | p. 70 |
Factors Determining the Magnitude of Elasticity | p. 83 |
References | p. 85 |
The Supply of Transport | p. 89 |
Introduction | p. 89 |
Elasticity of Supply | p. 91 |
Conclusion | p. 94 |
References | p. 94 |
Pricing Policy | p. 95 |
Introduction | p. 95 |
Price Discrimination | p. 95 |
Railways - Market Segmentation/Price Discrimination | p. 101 |
Airline Pricing | p. 111 |
The Low Cost Airline Market (Europe) | p. 114 |
MA Airways Ltd | p. 121 |
Solutions for Low Profitability and Loss of Market Share | p. 126 |
Eurostar | p. 134 |
Coach Pricing | p. 135 |
Bus Pricing | p. 137 |
Under-18 Market | p. 139 |
References | p. 144 |
Further Reading | p. 145 |
Cost Levels and Structure - Road Transport | p. 146 |
Price versus Quality | p. 146 |
Bus Operating Costs | p. 147 |
Cost Reduction (Bus Industry) | p. 161 |
References | p. 161 |
Cost Levels and Structure - Railways | p. 163 |
The Privatised/Disaggregated Railway | p. 170 |
Costing the Integrated Railway - A Lesson for 'New' (2004) EU Member States | p. 172 |
Avoidable Cost (Railways) | p. 175 |
References | p. 179 |
Cost Levels and Structure - Airlines | p. 183 |
References | p. 197 |
Forecasting Transport Demand, Revenue and Expenditure | p. 199 |
Economic Forecasting | p. 199 |
Forecasting Bus Costs and Revenue in a Shire County Funding Context | p. 201 |
The Impact of Channel Tunnel International Trains on Domestic Commuter Services | p. 207 |
Road Traffic Forecasting - Macro Economic Forecasts | p. 217 |
Forecasting Rail Passenger Demand - Elements in the Model | p. 220 |
Forecasting for an Integrated Transport Policy | p. 223 |
Forecasting Air Traffic Demand | p. 225 |
Eurotunnel: Forecasts of Freight and Passenger Traffic | p. 230 |
Conclusion - Forecasting | p. 235 |
References | p. 235 |
Public Policy | |
Economic Appraisal - Techniques | p. 241 |
The Argument for Government Investment in Public Transport | p. 241 |
Cost Benefit Analysis | p. 243 |
Cost Benefit Analysis of Bus Subsidy | p. 259 |
Great Britain - Central London Rail Study | p. 261 |
Great Britain - Strategic Rail Authority | p. 264 |
European Commission - Socially Necessary Railway Services | p. 272 |
Sweden - Rail Infrastructure Company, Banverket (BV) | p. 280 |
Germany - Federal Traffic Infrastructure Plan | p. 281 |
The Netherlands - Rail Service Evaluation | p. 283 |
European Bank for Reconstruction and Development (EBRD) | p. 285 |
References | p. 290 |
Further Reading | p. 293 |
Economic Appraisal - Valuation of Elements | p. 295 |
Purpose of Investment | p. 295 |
An Appropriate Evaluation Technique | p. 295 |
Environmental Considerations in New Infrastructure (Road, Rail, Airports) Investment | p. 309 |
Definition of the Environment | p. 314 |
Transport Investment Areas | p. 316 |
The Valuation of Time Savings | p. 317 |
Winners and Losers | p. 321 |
Private Capital Schemes | p. 324 |
Road Pricing: Market Forces in Public Policy | p. 327 |
References | p. 328 |
Public Private Partnership (PPP) Investment | p. 332 |
PPP Funding - Additional Investment or a Substitute for Public Sector Investment? | p. 332 |
Value for Money | p. 333 |
Transfer of Risk and Commercial Risk Premiums | p. 334 |
Private Sector Enthusiasm for PPPs | p. 334 |
Solutions to Primary Private Sector Concerns | p. 336 |
Analysis of Bidders' Views | p. 337 |
Financial Appraisal versus Cost Benefit Analysis | p. 338 |
Funding a PPP Scheme (Major Urban Railway) | p. 339 |
East West Crossrail (London) | p. 340 |
Manchester Metrolink | p. 341 |
CBA/FA in TEN PPPs - Some Current Views | p. 342 |
Speed Raising Proposals for Regional Trains and Inter City Links between Regions within the European Union | p. 343 |
References | p. 346 |
Funding an Integrated Transport Policy | p. 347 |
Definition of an Integrated Transport Policy | p. 348 |
Governance of an Integrated Transport Policy | p. 350 |
Application of an Integrated Transport Policy | p. 351 |
The 4 I's | p. 354 |
Questions | p. 357 |
The European Union Context | p. 357 |
European Union Policy | p. 358 |
The Congestion Problem | p. 359 |
Market Forces and an Integrated Transport Policy | p. 363 |
Evaluation and Financing of Railway and Road Investment within an Integrated Transport Policy | p. 366 |
Cost Benefit/Multicriteria Evaluation | p. 373 |
Conclusion | p. 380 |
References | p. 381 |
Regulation or Competition? | p. 384 |
Introduction | p. 384 |
The UK Bus Market | p. 385 |
Effects of Deregulation | p. 386 |
Concerns about a Dergulation Policy | p. 388 |
A Supply-Side Competitive Franchising System | p. 396 |
References | p. 399 |
Transport and Development | |
19th Century Britain | p. 403 |
The Need for Transport | p. 403 |
Transport and the Development of 19th Century London | p. 404 |
Metroland | p. 408 |
Economic Impact of the Railways outside London | p. 412 |
Conclusion | p. 414 |
References | p. 415 |
Transport and Economic Activity | p. 416 |
Definition | p. 416 |
Options for Growth | p. 416 |
Forms of State Aid | p. 417 |
Government Policy in Britain and in Ireland | p. 418 |
The Atlantic ARC | p. 420 |
Location Criteria - The Position of Transport | p. 421 |
Do Roads Really Bring Economic Success? | p. 424 |
Policy in Other EU Member States | p. 428 |
Conclusion | p. 429 |
References | p. 431 |
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