This paper develops estimates of U.S. railroad productivity by using methods based on the neoclassical theory of production. We find that railroad productivity grew at the average annual rate of 1.5 percent per year during the 1951-1974 period. Using conventional measurement procedures for...

There has been a perception that U.S. trunk airlines had an inherent cost advantage over smaller regional airlines because of economies of scale. We have formulated a general model of airline costs, which we estimate by using panel data on large and small airlines. Differences in scale are shown...

Hick's theorem permits aggregation of commodities when their relative prices are fixed, but, contrary to a widely expressed view, it does not require that they be aggregated. Even where commodities have identical prices, all of their income elasticities and many of their price elasticities can...

Time-of-use (TOU) pricing has emerged in recent years as a popular rate program, offering utilities both a more efficient pricing mechanism and a tool for load management. Initial experiments with TOU pricing were generally designed to provide evidence on customer response to mandatory TOU...

Service options for the electric utility industry are increasingly including provisions to dynamically dispatch prices or service interruption calls to customers. When the number of such calls is contractually limited, then the issue of optimally dispatching the calls must be addressed. An...