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9780749439644

Applied Transport Economics: Policy, Management and Decision Making

by Cole, Stuart
  • ISBN13:

    9780749439644

  • ISBN10:

    0749439645

  • eBook ISBN(s):

    9780749446062

  • Edition: 3rd
  • Format: Paperback
  • Copyright: 2005-04-01
  • Publisher: Kogan Page Ltd

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Summary

This third edition of "Applied Transport Economics" has been completely revised and updated to cover the latest developments and thinking in transport economics. Professor Stuart Cole examines the application of economics techniques first to commercial transport operations, and second to public policy issues such as investment, integrated transport and competition, and third to the role of transport in its wider economic context. The style and approach, which proved so popular in the first two editions has been retained. This approach provides a transport economics text book for managers who are not familiar with economics techniques, students preparing for examinations in transport and other areas of business and public policy where an applied approach to economics is required, and economists entering the transport field.

Author Biography

Professor Stuart Cole is a member of the First Great Western Stakeholders Advisory Group representing travellers, business and academia. Professor Cole is a regular broadcaster on BBC radio and television and on S4C in both Welsh and English

Table of Contents

About the Author xi
Acknowledgements xiii
Introduction 1(4)
Part 1: Transport Market Dynamics
Chapter 1: Market Demand
5(31)
Transport as a Derived Demand
5(1)
Factors Determining Demand
6(11)
Case Study 1: Urban Bus Operations
15(2)
Demand Patterns Not Influenced by Operators
17(3)
Operator Attempts to Influence Demand
20(1)
Peak Demand
21(13)
References
34(2)
Chapter 2: Elasticity of Demand
36(53)
Price Elasticity of Demand
36(21)
Case Study 1: Transatlantic Fares
37(2)
Case Study 2: Coach/Rail Competition
39(11)
Case Study 3: London Commuters
50(7)
The Measurement of Price Elasticity
57(7)
Income Elasticity
64(6)
Service Elasticity
70(13)
Case Study 4: Analysis of Eurostar and Eurotunnel Markets, 1992-97
70(13)
Factors Determining the Magnitude of Elasticity
83(2)
References
85(4)
Chapter 3: The Supply of Transport
89(6)
Introduction
89(2)
Elasticity of Supply
91(3)
Conclusion
94(1)
References
94(1)
Chapter 4: Pricing Policy
95(51)
Introduction
95(1)
Price Discrimination
95(31)
Case Study 1: Railways - Market Segmentation/Price Discrimination
101(10)
Case Study 2: Airline Pricing
111(3)
Case Study 3: The Low Cost Airline Market (Europe)
114(7)
Case Study 4: MA Airways Ltd
121(5)
Solutions for Low Profitability and Loss of Market Share
126(9)
Case Study 5: Eurostar
134(1)
Coach Pricing
135(2)
Bus Pricing
137(7)
Case Study 6: Under-18 Market
139(5)
References
144(1)
Further Reading
145(1)
Chapter 5: Cost Levels and Structure - Road Transport
146(17)
Price versus Quality
146(1)
Bus Operating Costs
147(14)
Case Study 1: Cost Reduction (Bus Industry)
161(1)
References
161(2)
Chapter 6: Cost Levels and Structure - Railways
163(20)
The Privatised/Disaggregated Railway
170(9)
Case Study 1: Costing the Integrated Railway - A Lesson for 'New' (2004) EU Member States
172(3)
Case Study 2: Avoidable Cost (Railways)
175(4)
References
179(4)
Chapter 7: Cost Levels and Structure -Airlines
183(16)
References
197(2)
Chapter 8: Forecasting Transport Demand, Revenue and Expenditure
199(42)
Economic Forecasting
199(36)
Case Study 1: Forecasting Bus Costs and Revenue in a Shire County Funding Context
201(6)
Case Study 2: The Impact of Channel Tunnel International Trains on Domestic Commuter Services
207(10)
Case Study 3: Road Traffic Forecasting - Macro Economic Forecasts
217(3)
Case Study 4: Forecasting Rail Passenger Demand - Elements in the Model
220(3)
Case Study 5: Forecasting for an Integrated Transport Policy
223(2)
Case Study 6: Forecasting Air Traffic Demand
225(5)
Case Study 7: Eurotunnel: Forecasts of Freight and Passenger Traffic
230(5)
Conclusion - Forecasting
235(1)
References
235(6)
Part 2: Public Policy
Chapter 9: Economic Appraisal - Techniques
241(54)
The Argument for Government Investment in Public Transport
241(2)
Cost Benefit Analysis
243(47)
Case Study 1: Cost Benefit Analysis of Bus Subsidy
259(2)
Case Study 2: Great Britain - Central London Rail Study
261(3)
Case Study 3: Great Britain - Strategic Rail Authority
264(8)
Case Study 4: European Commission - Socially Necessary Railway Services
272(8)
Case Study 5: Sweden - Rail Infrastructure Company, Banverket (BV)
280(1)
Case Study 6: Germany - Federal Traffic Infrastructure Plan
281(2)
Case Study 7: The Netherlands - Rail Service Evaluation
283(2)
Case Study 8: European Bank for Reconstruction and Development (EBRD)
285(5)
References
290(3)
Further Reading
293(2)
Chapter 10: Economic Appraisal - Valuation of Elements
295(37)
Purpose of Investment
295(1)
An Appropriate Evaluation Technique
295(14)
Environmental Considerations in New Infrastructure (Road, Rail, Airports) Investment
309(5)
Definition of the Environment
314(2)
Transport Investment Areas
316(12)
Case Study 1: The Valuation of Time Savings
317(4)
Case Study 2: Winners and Losers
321(3)
Case Study 3: Private Capital Schemes
324(3)
Case Study 4: Road Pricing: Market Forces in Public Policy
327(1)
References
328(4)
Chapter 11: Public Private Partnership (PPP) Investment
332(15)
PPP Funding - Additional Investment or a Substitute for Public Sector Investment?
332(1)
Value for Money
333(1)
Transfer of Risk and Commercial Risk Premiums
334(1)
Private Sector Enthusiasm for PPPs
334(2)
Solutions to Primary Private Sector Concerns
336(1)
Analysis of Bidders' Views
337(1)
Financial Appraisal versus Cost Benefit Analysis
338(4)
Case Study 1: Funding a PPP Scheme (Major Urban Railway)
339(1)
Case Study 2: East West Crossrail (London)
340(1)
Case Study 3: Manchester Metrolink
341(1)
CBA/FA in TEN PPPs - Some Current Views
342(4)
Case Study 4: Speed Raising Proposals for Regional Trains and
343(3)
Inter City Links between Regions within the European Union References
346(1)
Chapter 12: Funding an Integrated Transport Policy
347(37)
Definition of an Integrated Transport Policy
348(2)
Governance of an Integrated Transport Policy
350(1)
Application of an Integrated Transport Policy
351(3)
The 4 I's
354(3)
Questions
357(1)
The European Union Context
357(1)
European Union Policy
358(1)
The Congestion Problem
359(4)
Market Forces and an Integrated Transport Policy
363(3)
Evaluation and Financing of Railway and Road Investment within an Integrated Transport Policy
366(7)
Cost Benefit/Multicriteria Evaluation
373(7)
Conclusion
380(1)
References
381(3)
Chapter 13: Regulation or Competition?
384(19)
Introduction
384(1)
The UK Bus Market
385(1)
Effects of Deregulation
386(2)
Concerns about a Deregulation Policy
388(8)
A Supply-Side Competitive Franchising System
396(3)
References
399(4)
Part 3: Transport and Development
Chapter 14: 19th Century Britain
403(13)
The Need for Transport
403(1)
Transport and the Development of 19th Century London
404(4)
Metroland
408(4)
Economic Impact of the Railways outside London
412(2)
Conclusion
414(1)
References
415(1)
Chapter 15: Transport and Economic Activity
416(19)
Definition
416(1)
Options for Growth
416(1)
Forms of State Aid
417(1)
Government Policy in Britain and in Ireland
418(2)
The Atlantic ARC
420(1)
Location Criteria - The Position of Transport
421(3)
Do Roads Really Bring Economic Success?
424(4)
Policy in Other EU Member States
428(1)
Conclusion
429(2)
References
431(4)
Index 435

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