This paper develops an empirical model of the relationship between road traffic accidents and traffic flows. The analysis focuses on the accident externality, which is determined mainly by the difference between the marginal and average risks. The model is estimated using a new data-set which...

This timely book deals with the problem of pricing passenger and freight transportation within Europe. The contributors argue that current legislation affecting pricing and regulation is increasingly less successful in dealing with market failures and externalities such as congestion, air...

This paper examines the issue of financing infrastructure investment projects. It looks closely at what the market failures are that mean the private sector has not been able to cover the investment requirement itself. It will then assess the government failures associated with intervention, and...

This report examines market power in rail markets in Europe arising from horizontal and vertical mergers in the sector, and is intended to provide a high-level basis for discussion at the round table itself. It presents factual information on horizontal and vertical merger cases involving rail...

This report organizes and discusses empirical estimates of the effects of fuel prices and fuel emission standards on consumer and firm behaviour. I touch only briefly on model-free estimates. The focus is on results based on explicit models, taken mostly from the industrial organization...