Port economic cost functions: A service perspective

Wayne K. Talley and ManWo Ng

Transportation Research Part E: Logistics and Transportation Review, 2016, vol. 88, issue C, 1-10

Abstract: Ports provide services rather than producing physical products. However, port cost functions specify port cost as functions of physical products, e.g., port cargo throughput long-run cost is a function of port resource prices and cargo throughput (a physical product). In comparison, port cargo service long-run cost is a function of port resource prices, cargo service and shipper cargo received. The shipper provides cargo that is serviced by the port. A service cannot be touched and its user is involved in its provision. This paper derives port cost functions for which port outputs are “service outputs”, e.g., cargo, vessel and vehicle services.

Keywords: Quality of port services; Port cargo throughput production function; Port service economic production function; Port cargo throughput cost function; Port service economic cost function; Port longrun multi-service economic joint cost function (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (9)

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DOI: 10.1016/j.tre.2015.12.002

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