Regulation of commuter railways and spatial development

Article Abstract:

Many Japanese commuter railway operators are engaged in side businesses such as bus services, real estate development and department stores. The side businesses generate as much as 35% of the total revenues of railway operators, and in a few cases earn more than the railway business. Moreover, only the railway division is subject to rate-of-return regulation. A simple spatial model was used to determine the effect of this type of regulation on Japan's commuter railway system. The results show that rate-of-return regulation causes under-investment rather than over-investment in railway capacity, leading to congestion in commuter railways.

Research, Analysis, Industry regulations, Transportation policy, Government regulation of business, Trade regulation, Light rail transit

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How many parking spaces does it take to create one additional transit passenger?

Article Abstract:

The increase of parking capacity of constrained rail stations in the Chicago, IL area may also correspond to the increase in the number of passenger boardings in those particular stations. Empirical analyses show that additional parking spaces in rail stations are positively correlated to additional passenger boardings. However, the increase in parking capacity in a rail station can slightly diminish the passenger boardings at adjoining stations. Nevertheless, the net impact of increased parking capacity is beneficial on system-wide passenger boarding.

Chicago, Illinois, Automobile parking, Car parking

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Rate of return regulation and rate base evaluation

Article Abstract:

A spatial model was utilized to analyze the rate of return (ROR) regulation that classifies a commuter railway's assets at their base value and break down its effects into three parts, namely, the Averch-Johnson (AJ) effect, the book-valuation effect and the capital-gains effect. The book-valuation based ROR reduces investments in railroad right of way and also causes congestions to increase. A higher marginal rate substitution is also seen in the book-valuation effect when land prices increases.

Laws, regulations and rules, Return on investment, Rate of return

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