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A comparative analysis of European railroads efficiency: a cost frontier approach

Lucia Parisio ()

Applied Economics, 1999, vol. 31, issue 7, 815-823

Abstract: The paper analyses the issue of cost efficiency for eight main European railroads in a sample period of 17 years. Measures of technical and allocative efficiency are obtained from a stochastic cost frontier model, with minimal cost described by a translog cost system. In the model, the cost of allocative inefficiency is estimated simultaneously from the shares' errors, whereas technical inefficiency is modelled by a (half normal) positive departure from the cost frontier. Results show a negligible effect of allocative inefficiency on firms' costs, whereas the cost of technical inefficiency appears to be significant.

Date: 1999
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DOI: 10.1080/000368499323788

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Handle: RePEc:taf:applec:v:31:y:1999:i:7:p:815-823