Efficiency of railway management
Basically, the railroad network is a national asset that could be used to reduce the costs of transportation.The paper has two aims which the first is to describe the efficiency improvements that the railroad industry itself has made.The second is to describe the role that rail network could play in...
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| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://repo.uum.edu.my/8455/1/p1621.pdf http://repo.uum.edu.my/8455/ http://lintas.uum.edu.my:8080/elmu/index.jsp?module=webopac-l&action=fullDisplayRetriever.jsp&szMaterialNo=0000792423 |
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| Summary: | Basically, the railroad network is a national asset that could be used to reduce the costs of transportation.The paper has two aims which the first is to describe the efficiency improvements that the railroad industry itself has made.The second is to describe the role that rail network could play in a more efficient overall national transportation system.The paper uses a secondary data or quantitative grounded theory research methods to investigate the efficiency of Malaysia’s railways since quantitative way are more naturalistic.Author found that there was substantial inefficiency in the industry with no sign of reduction over time.Author’s main conclusion is that principal agent problems were pervasive in railway management.Research results suggest that private ownership in the railway industry can promote efficiency and should be supported by competition for franchises and price-capping regulation as well.There are two formal economic aspects of efficiency.Productive efficiency occurs when an economy cannot produce more of one good or service without producing less of another.It generally occurs when firms produce at minimum average total cost.Allocate efficiency occurs when the economy cannot raise one consumer’s satisfaction without lowering another’s.It occurs when price signals to consumers are based on marginal costs. The focus of research is on techniques of improving rail network performance.Author is concerned with the productive efficiency of railroad firms.Author is asking what needs to be done to enable railroads to provide service at the minimum average cost that is technologically possible.The allocate efficiency of the transportation system within which railroads operate is also important. |
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