Abstract This paper re-examines the question of short-run economies in the provision of rapid-rail transit. In order to satisfy the theoretical requisite that all observations show costs no less than the theoretical minimum implied by a cost function, I estimate here a frontier cost function. The results indicate decreasing returns for all properties in the sample, a change from previous results. There appears to be only a small amount of technical inefficiency in the industry. I also discuss the implications for marginal-cost pricing of these services in the absence of externalities.


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    Title :

    Once again, the costs of urban rapid transit


    Contributors:

    Published in:

    Publication date :

    1992-12-06


    Size :

    12 pages




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English



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