Topic Area E:
Transport Economics and Finance

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TAM: Charles Raux*

This topic area deals with key aspects of evaluation, pricing, financing, and economic regulation. Under this topic, the private and social costs and benefits of transport systems (infrastructure and services) are appraised, based on consistent economic criteria. It also helps to understand the roles of each level of government, and develop policy and regulatory proposals, including the issues of pricing, private and public finance and investment choices. This area is concerned with all modes of transport and all types of demand and supply settings.

Session Tracks:

  1. E1: Transport System Analysis and Economic Evaluation (Fusun Ulengin)*
    Transport system analysis and economic evaluation is a multidisciplinary field which draws on economics (e.g. cost-benefit analysis), engineering, operations research and other social sciences such as political science. It evaluates the fundamental issues in planning, design and management of transport systems. It also analyses the socio-economic performance of transport systems as well as the processes of evaluation and investment choice. Specifically, the impact of interaction among all the transport modes are investigated with a system approach, and not solely based on individual transport modes such as urban transport, or rail transport etc.

    E2: Transport Pricing (Georgina Santos)*
    Session Track E2 is concerned with economically efficient pricing in transport. In particular, problems related to large fixed costs and economies of scale, externalities and imperfect information, plus additional constraints due to political considerations, make the standard marginal cost pricing not always efficient in transport economics. Different transport modes and different demand and supply models will lead to different questions and solutions. The definition of pricing is pushed to include all types of economic instruments to internalise and/or reduce externalities and inefficient outcomes. In this sense, not only papers considering taxes, charges and fees are welcome, but also those considering tradable permits and/or hybrid systems.

    E3: Transport Economic Regulation (Marco Ponti)*
    Economic regulation deals with natural and legal monopolies (transport infrastructure and public services), assuming the need of an independent intervention, given the existence of State failures and the presence of "capture" phenomena. The main issues are: incentive pricing for concessions, access to infrastructure, procedures for the award of public services, liberalization, Public Private Participation in financing (PPP).

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