The move in the past decade to deregulate industries that were tightly regulated has raised the question of whether decreased regulation has brought with it decreased safety. The book considers this question in relation to the airline and motor freight industries, and the studies conclude that...

A three-staged least squares translog cost function is estimated for 13 heavy-rail and nine light-rail United States urban mass transit systems for the period 1985-1991. Firm output is taken to be endogenous. Large economies of density are found in operating costs. These economies become even...

Based on data for the period from 1948 to 1997, exogenous decreases in demand and increases in costs are estimated to have reduced the annual profitability of the Chicago Transit Authority (CTA) by $1 billion. Half of this decline was recouped by reductions in service, increased fares and...

This paper models public policies to improve safety within a structural model of the truckload trucking industry. The policies are designed to ameliorate the market failures associated with the myopic ignoring of crash costs by some trucking firms, and institutional constraints that prevent full...