Transport Economics

'Mallard and Glaister provide a broad introduction to transport economics that will appeal especially to undergraduates with little prior knowledge of economics or whose knowledge would benefit from a refresher. Teachers and students alike will be pleased with the many empirical case studies that illustrate how to put the theory and concepts developed to practical use.' - Professor Erik T. Verhoef, VU University Amsterdam 'This book stands apart from its competitors by providing a thorough explanation of the established economic framework and its relevance to the transport sector and to recent policy initiatives. I would recommend it for both undergraduate and MSc level courses in transport.' Dr Corinne Mulley, Newcastle University 'This text aims to bring economic theories alive for students, elucidating traditional concepts by applying them to a real-world context'. - THES Textbook Guide

GRAHAM MALLARD holds a degree in Economics from the University of Cambridge and is an experienced teacher of the subject at a range of levels, including further education. STEPHEN GLAISTER CBE is Professor of Transport and Infrastructure at Imperial College London, UK and is a member of the Board of Transport for London

Foreword Professor Geoff Harcourt of Jesus College, The University of Cambridge.- Introduction.- PART ONE: SETTING THE SCENE.- The History of Transport.- The Importance of Transport.- PART TWO: THE THEORY OF MARKETS.- The Demand for Transport.- Markets, Costs and Revenues.- Competition and Contestability.- Monopoly.- Monopolistic Competition.- Oligopoly.- Mathematical Appendix.- PART THREE: MARKET FAILURE.- Externalities.- Public and Demerit Goods.- Inequality and Asymmetric Goods.- PART FOUR: POLICY.- Privatisation and Deregulation.- Project Appraisal Cost-Benefit Analysis.- Transport Investment.- General Forms of Government Intervention.- Tackling Traffic Congestion.- PART FIVE: THE FUTURE.