purchasing buses primarily from a few domestic bus makers. Unlike private vehicles, the fuel economy of public buses is … irresponsive to fuel price changes. To understand this finding, we build a model of bus fleet management decisions of local transit … agencies that yields testable hypotheses. Our empirical analysis of bus fleet turnover and capital investment suggests that …

purchasing buses primarily from a few domestic bus makers. In contrast with private passenger vehicles, the fuel economy of … findings, we build a model of bus fleet management decisions of public transit agencies that yields testable hypotheses. Our … empirical analysis of bus fleet turnover and capital investment highlights the role of energy prices, environmental regulations …