Institutional reform: A decision-making process view

Alastair Stone

Research in Transportation Economics, 2008, vol. 22, issue 1, 164-178

Abstract: The paper analyses the fundamentals of the decision-making process and proposes a model which is applied to the example of urban land passenger transport. The model amongst other things, redefines the nature of the urban land transport product. The paper explores the implications for many established policy positions on institutional arrangements, such as user pays, that have become distorted by current descriptions of products that ignore the insights of explicitly considering the decision-making process leading to the act of resource exchange for the provision of urban land transport service.

Date: 2008
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