Pricing Issues in the Deregulation of Railroad Rates

William Baumol and Robert Willig

Chapter 2 in Economic Analysis of Regulated Markets, 1983, pp 11-47 from Palgrave Macmillan

Abstract: Abstract This chapter is addressed to the central pricing issues involved in partial deregulation of railroad rates. It enunciates principles to guide regulatory oversight of the rate setting of unsubsidized railroads — principles that are consistent with economic analysis and that are essential for protection of the public interest. The paper is largely motivated by the Staggers Rail Act, recently passed by the Congress of the United States, which mandates both an end to periodic Federal subsidies to railroads and continuing regulatory oversight of railroad rates. Nevertheless, the principles espoused here are equally germane wherever partial deregulation of railroads, or other utilities, is at issue.

Keywords: Marginal Cost; Price Issue; Transportation Service; Financial Viability; Rail Service (search for similar items in EconPapers)
Date: 1983
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DOI: 10.1007/978-1-349-17099-9_2

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