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The fundamental tension between the freight railroads' network economics and economic regulation has never been …
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A spatial equilibrium of a stylized railroad network is offered to illustrate that monopoly pricing requires prices on some links that are so high that traffic “does not move.” ICC price structure regulation, which was based on the idea that traffic should be priced to “move” in a...
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increased regulation of U.S. railroads, citing increased rates and profits, and monopoly pricing to “captive shippers.” This …
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In this article, I analyze and compare the contributions of Dupuit and Walras on the natural monopoly of railroads …. Both theorists argued that inland waterways—as opposed to railroads—could be vertically unbundled, a point which previous … and Walras both concluded that railroads were better managed under the monopoly regime; however they drew upon different …
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We examine the role of public and private interests in the passage of major legislative bills that have governed the rail industry since 1887. Our model of voting patterns in the House and Senate introduces novel measures of industry concentration, competition, and network characteristics. We...
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