Efficiency measurement in network industries
application to the Swiss railway companies
Informazioni aggiuntive
Autori
Farsi M.,
Filippini M.,
Greene W.
Tipo
Articolo pubblicato in rivista scientifica
Anno
2005
Lingua
Inglese
Sommario
The persistence of increasingly high government subsidies in Switzerland’s railroads has led the federal and cantonal authorities to discussing the possibility of high-powered incentive contracts such as those based on cost efficiency benchmarking. Railways are however, characterized by a high degree of unobserved heterogeneity that could bias the efficiency estimates. This paper examines the performance of several panel data models to measure cost efficiency in network industries. The unobserved firm-specific effects and the resulting biases are studied through a comparative study of several stochastic frontier models, applied to a panel of 50 railway companies operating over a 13-year period.
Parole chiave
Incentive regulation, railroads, cost efficiency, scale economies
Periodico
Journal of Regulatory Economics
Volume
28
Numero ( Mese )
1
Pagine (o numero dell’articolo)
69-90
Diffusione
Licenza
Licenza non definita
Visibilità
Pubblico
Status open access
Green
