High-speed trains can compete successfully with road, air and conventional rail services on densely trafficked routes where willingness to pay is sufficient at the relatively elevated fare levels needed to cover costs. High-speed rail investments can also relieve congestion on the conventional...

How should airports be regulated to contain market power? This round table proceedings first examines whether they need to be regulated at all. It concludes that because regulation is inevitably imperfect and costly, policy makers should establish conditions for competition to emerge between...