Cost-benefit analysis is a tool in government decision-making for determining the consequences of alternative uses of society’s scarce resources. Such a systematic process of comparing benefits and costs was adopted in early years for transportation projects and it has been the subject of much...

This paper analyses equilibrium fares that arise from Collusion, Cournot, Stackelberg, Bertrand and Sequential Price Competition when two profit maximising transport firms produce symmetrically differentiable services and have identical costs. Special focus is placed on how different equilibrium...