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We analyse the behaviour of market participants in a multi-modal commuter network where roads are not priced, but …, and markets in which separate operators own each public transport link. To do so, we consider a simple transport network … influenced by all fares in the network. We then use numerical simulations to show that, contrary to the results obtained in …
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This paper discusses a number of issues centred around the evaluation of the benefits and costs of transport. It is argued that, for various reasons, transport cannot be treated as an ‘ordinary’ economic sector, and in the paper the policy implications of a number of the sector’s...
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