Estimating the Value of Guaranteed Rail Service

Gregory R. Pautsch, Bruce Babcock and C. Phillip Baumel

ISU General Staff Papers from Iowa State University, Department of Economics

Abstract: The purpose of this research is to develop a framework to estimate the value of guaranteed rail service to grain shippers. The analysis consists of estimating density functions for the days waiting for conventional tariff service. A shipper loss function for waiting for rail service was also estimated. Three qualitative results were established. First, the value of guaranteed rail service increases as the quality of guaranteed service rises. Second, the value of guaranteed rail service increases as conventional tariff service becomes less reliable. Finally, when grain is stored on the ground, the value of guaranteed rail service increases.

Date: 1996-01-01
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Related works:
Journal Article: Estimating the Value of Guaranteed Rail Service (1996)
Working Paper: Estimating the Value of Guaranteed Rail Service (1996)
Working Paper: Estimating the Value of Guaranteed Rail Service (1995)
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