Transport Economics and Policy: A... | Buy

A systematic study of the performance of the various modes of inland transport in the UK. Designed as a handbook for students of transport economics, it returns to the first principles of economics. John Hibbs aims to write about conceptual economics in a way that is accessible to non-specialists.

Professor John Hibbs, OBE, is Emeritus Professor of Transport Management at the University of Central England, Birmingham, and has worked in management for the bus industry and for British Rail

Foreword

xiii

Preface

xv

Part one The economic issues

1

(76)

The basic concepts revisited

3

(10)

Economics is about human behaviour in circumstances of scarcity

3

(3)

Risk, production and the entrepreneur

6

(1)

Consumer costs and elasticities

7

(1)

Producers' costs

8

(2)

Conclusion

10

(3)

Questions for discussion

12

(1)

The importance of costing

13

(8)

Traffic costing is fundamental for success

13

(1)

Would we be better off without it?

14

(1)

How to understand costs and make cost savings

15

(2)

The costs we do not meet

17

(1)

Loss-making services

18

(1)

Conclusion

19

(2)

Questions for discussion

19

(2)

The importance of pricing

21

(8)

Pricing is more of an art than a science

21

(1)

The economic consequences of subsidy

22

(3)

Price control and the market

25

(2)

Conclusion

27

(2)

Questions for discussion

28

(1)

Allocative efficiency

29

(18)

What we seek to achieve

29

(2)

What prevents progress

31

(3)

The consequences of regulation

34

(4)

Public ownership and franchise as regulation

38

(2)

People in business

40

(1)

A silly idea

41

(1)

Is there something special about transport?

42

(3)

Conclusion

45

(2)

Questions for discussion

45

(2)

Consumer effectiveness

47

(12)

Satisfying effective demand

47

(1)

The importance of the entrepreneur

48

(3)

Regulatory failure and the economics of public choice

51

(3)

Forecasting demand

54

(2)

Conclusion

56

(3)

Questions for discussion

57

(2)

Externalities and the environment

59

(8)

Costs and benefits, profit and loss

59

(2)

The problem of track costs

61

(2)

Transport and the scarcity of land

63

(3)

Conclusion

66

(1)

Questions for discussion

66

(1)

Transport and public policy

67

(10)

The state of public knowledge

67

(1)

Government and politics

68

(4)

The neglected factor

72

(2)

Conclusion

74

(3)

Questions for discussion

75

(2)

Part two Applying the template

77

(70)

General problems of the infrastructure

79

(10)

The template

79

(1)

Track, terminals and signalling

80

(1)

Track costs and pricing

81

(3)

Efficiency, effectiveness and externalities

84

(2)

Road-use pricing

86

(1)

Pay as you go

87

(1)

Conclusion

88

(1)

Questions for discussion

88

(1)

Freight transport and distribution

89

(14)

Business logistics

89

(1)

Background and organization

90

(2)

Costing and pricing

92

(2)

Allocative efficiency

94

(3)

Consumer effectiveness

97

(1)

Externalities and the environment

98

(1)

Public attitudes and public policy

99

(1)

Competition in the market

100

(1)

Conclusion

101

(2)

Questions for discussion

101

(2)

Road passenger transport, including the private car

103

(26)

The market for movement

103

(3)

Background and organization

106

(5)

Costing and pricing

111

(5)

Allocative efficiency

116

(2)

Consumer effectiveness

118

(2)

Externalities and the environment

120

(4)

Two special cases

124

(2)

Conclusion

126

(3)

Questions for discussion

127

(2)

The railway problem

129

(12)

Utility or public good

129

(1)

Background and organization

130

(3)

Costing and pricing

133

(1)

Railways and the use of land

134

(4)

Allocative efficiency and consumer effectiveness

138

(1)

Externalities and the environment

139

(1)

Conclusion

140

(1)

Questions for discussion

140

(1)

Transport and tourism

141

(6)

Background and organization

141

(1)

Costs and prices

142

(2)

Allocation and effectiveness

144

(1)

Externalities and the environment

145

(1)

Conclusion

146

(1)

Questions for discussion

146

(1)

Part three The meaning of marketing

147

(38)

Efficiency, effectiveness and the marketing mix

149

(12)

Marketing management

149

(1)

Distinctive characteristics of services

150

(1)

Demand and the product

151

(2)

Obstacles to marketing

153

(2)

Practical marketing

155

(3)

Marketing management in the transport business

158

(1)

Conclusion

159

(2)

Questions for discussion

160

(1)

Efficiency, effectiveness and the seven Ps

161

(6)

Marketing and economics

161

(1)

The seven Ps in the marketing mix

162

(2)

Economics and the marketing mix

164

(2)

Conclusion

166

(1)

Questions for discussion

166

(1)

Marketing in freight transport and distribution

167

(4)

Commercial structure

167

(1)

Barriers and opportunities for marketing management

168

(2)

Conclusion

170

(1)

Questions for discussion

170

(1)

Marketing in commercial road passenger transport

171

(8)

Commercial structure

171

(1)

Barriers and opportunities for marketing management

172

(1)

The seven Ps in bus and coach operation

173

(2)

The pursuit of good marketing

175

(2)

Conclusion

177

(2)

Questions for discussion

178

(1)

Marketing in railway transport

179

(6)

Commercial structure

179

(2)

The seven Ps and the railway

181

(2)

Conclusion

183

(2)

Questions for discussion

183

(2)

Part four Summary and conclusions

185

(12)

Conclusion: no attainable end-state

187

(10)

Where we come from

187

(3)

Ignorance and uncertainty

190

(3)

No ideal end-state

193

(4)

Questions for discussion

195

(2)

Appendix 1 The elastic band

197

(2)

Appendix 2 Glossary of economic and related terms

199

(30)

Appendix 3 Sources of further information

229

(6)

Index

235

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

Part One The Economic Issues 1 The basic concepts revisited Economics is about human behaviour in circumstances of scarcity Risk, production and the entrepreneur Consumer costs and elasticities Producers’ costs Conclusion Questions for discussion 2 The importance of costing Traffic costing is fundamental for success Would we be better off without it? How to understand costs and make cost savings The costs we do not meet Loss-making services Conclusion Questions for discussion 3 The importance of pricing Pricing is more of an art than a science The economic consequences of subsidy Price control and the market Conclusion Questions for discussion 4 Allocative efficiency What we seek to achieve What prevents progress The consequences of regulation Public ownership and franchise as regulation People in business A silly idea Is there something special about transport? Conclusion Questions for discussion 5 Consumer effectiveness Satisfying effective demand The importance of the entrepreneur Regulatory failure and the economics of public choice Forecasting demand Conclusion Questions for discussion 6 Externalities and the environment Costs and benefits, profit and loss The problem of track costs Transport and the scarcity of land Conclusion Questions for discussion 7 Transport and public policy The state of public knowledge Government and politics The neglected factor Conclusion Questions for discussion Part Two Applying the Template 8 General problems of the infrastructure The template Track, terminals and signaling Track costs and pricing Efficiency, effectiveness and externalities Road-use pricing Pay as you go Conclusion Questions for discussion 9 Freight transport and distribution Business logistics Background and organization Costing and pricing Allocative efficiency Consumer effectiveness Externalities and the environment Public attitudes and public policy Competition in the market Conclusion Questions for discussion 10 Road passenger transport, including the private car The market for movement Background and organization Costing and pricing Allocative efficiency Consumer effectiveness Externalities and the environment Two special cases Conclusion Questions for discussion 11 The railway problem Utility or public good Background and organization Costing and pricing Railways and the use of land Allocative efficiency and consumer effectiveness Externalities and the environment Conclusion Questions for discussion 12 Transport and tourism Background and organization Costs and prices Allocative efficiency and consumer effectiveness Externalities and the environment Conclusion Questions for discussion Part Three The Meaning of Marketing 13 Efficiency, effectiveness and the marketing mix Marketing management Distinctive characteristics of services Demand and the product Obstacles to marketing Practical marketing Marketing management in the transport business Conclusion Questions for discussion 14 Efficiency, effectiveness and the seven Ps Marketing and economics The seven Ps in the marketing mix Economics and the marketing mix Conclusion Questions for discussion 15 Marketing in freight transport and distribution Commercial structure Barriers and opportunities for marketing management Conclusion Questions for discussion 16 Marketing in commercial road passenger transport Commercial structure Barriers and opportunities for marketing management The seven Ps in bus and coach operation The pursuit of good marketing Conclusion Questions for discussion 17 Marketing in railway transport Commercial structure The seven Ps and the railway Conclusion Questions for discussion Part Four Summary and Conclusions 18 No attainable end-state Where we come from Ignorance and uncertainty No ideal end-state Questions for discussion