Abstract Transportation systems are complex assemblages of men and machines. To analyse such systems requires a careful analytical approach. It is especially important to distinguish between the transportation performance function and the conventional supply function of economic theory. Classical economic theory is inadequate for an understanding of transportation “supply”, because of several important features of transportation. Most importantly, consumer demand responds to both price and non-price attributes of a transportation service, and the levels of some of the non-price attributes (e.g. travel time) are functions of both operator decisions and consumer demand. The approach taken here recognizes such features explicitly.
Understanding “supply” in transportation systems
Transportation Research Part A: General ; 14 , 2 ; 119-135
1979-09-27
17 pages
Article (Journal)
Electronic Resource
English
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