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The Forgotten Discovery of Gravity Models and the Inefficiency of Early Railway Networks
Odlyzko, Andrew - 2016
The routes of early railways around the world were generally inefficient because the prevailing doctrine of the time called for concentrating on provision of fast service between major cities and neglect of local traffic. Modern planners rely on methods such as the "gravity models of spatial...
Persistent link: https://www.econbiz.de/10014142634
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Collective Hallucinations and Inefficient Markets : The British Railway Mania of the 1840s
Odlyzko, Andrew - 2010
The British Railway Mania of the 1840s was by many measures the greatest technology mania in history, and its collapse was one of the greatest financial crashes. It has attracted surprisingly little scholarly interest. In particular, it has not been noted that it provides a convincing...
Persistent link: https://www.econbiz.de/10013148906
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The early British railway system, the Casson counterfactual, and the effectiveness of central planning
Odlyzko, Andrew M. - In: Essays in economic and business history : the journal … 34 (2016), pp. 60-94
Persistent link: https://www.econbiz.de/10011927191
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Without Delay : Getting Britain's Railways Moving
Wellings, Richard - 2021
The renationalisation of rail infrastructure has not been a success. Network Rail has been plagued by crisis after crisis, with major projects hit by delays, mismanagement and large cost overruns. Its problems echo those suffered by the inefficient nationalised industries of the post-war period....
Persistent link: https://www.econbiz.de/10013225231
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Bagehot's Giant Bubble Failure
Odlyzko, Andrew - 2019
Walter Bagehot is remembered today primarily as a proponent of the doctrine of lender of last resort, in which central banks pump money into the economy to ameliorate the damage from a financial crisis. But none of the growing number of publications about him appear to investigate in depth...
Persistent link: https://www.econbiz.de/10012863864
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Railway (De)Regulation : A European Efficiency Comparison
Friebel, Guido; Ivaldi, Marc; Vibes, Catherine - 2005
Many European countries have sought to increase the efficiency of national railroad companies through a range of … network to third parties. To estimate the effects of reforms on railroad efficiency, we investigate a new World Bank panel … data set that covers many EU countries over a period of 20 years. We compare the passenger traffic efficiency of national …
Persistent link: https://www.econbiz.de/10014073305
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A re-examination of four decades' deregulation effect on competition and productivity of the US freight rail transportation industry
Shin, Seungjae - In: Journal of International Logistics and Trade 22 (2024) 1, pp. 22-38
Purpose - The purpose of this study is to compare the competition and productivity of the US freight rail transportation industry for the past 41 years (1980 ∼ 2020), which consists of the two periods, before and after the abolishment of the Interstate Commerce Commission (ICC) in 1995....
Persistent link: https://www.econbiz.de/10014549645
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The Railway Mania of the 1860s and Financial Innovation
Odlyzko, Andrew - 2022
The 1860s witnessed Britain's third, and last, large railway mania. Although it added about as much mileage to the rail network as the great Railway Mania of the 1840s, little is known about it in modern literature. This paper documents how this mania managed to delude investors into pouring...
Persistent link: https://www.econbiz.de/10013308284
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The Railways, the Market and the Government
Hibbs, John - 2013
The debate on rail privatisation often seems to focus on very narrow issues. Those on both sides of the argument seem to be able to employ a mass of statistics to prove their point. Proponents of privatisation suggest, with some credibility, that all was reasonably well with the privatised...
Persistent link: https://www.econbiz.de/10012711691
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Rail Focus : Highspeed Railways in USA, Light Rail Systems in France and UK, Saudi Arabia Railway Market
Martinez, Marcello - 2012
Persistent link: https://www.econbiz.de/10014172245