Berkshire Hathaway took Burlington Northern Santa Fe Railroad private in November of 2009 in a deal valued at $100 per share, which was approximately 31% higher than the share price at the time. Surprisingly, the deal came under immediate criticism from sources relatively close to Warren Buffett...

This paper presents a game-theoretic model of a liberalized railway market, in which train operation and ownership of infrastructure are vertically separated. We analyze how the regulatory agency will optimally set the charges that operators have to pay to the infrastructure manager for access...

The railways of Russia and the Central and Eastern European countries are in the process of restructuring. In most cases, the vertical separation reform model is being pursued, and reformers are seeking to introduce competition among freight train operators through the provision of open access...

This paper studies regional treatment effects of infrastructure projects on economic growth, employment and intermodal transport volumes. The recent Belt and Road Initiative provides an experiment that can be evaluated using matching econometrics. Our results show that the establishment of a new...