Once again, the costs of urban rapid transit

Philip A. Viton

Transportation Research Part B: Methodological, 1993, vol. 27, issue 5, 401-412

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.

Date: 1993
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