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Module Reading List

Principles of Transport Economics, 2021/22, Semester 1
Alexander Stead
Tutor information is taken from the Module Catalogue


Button, K. (2010). "Transport Economics" (3rd edition). Edward Elgar. (or you can use 2nd ed)

McCarthy, P. (2001) “Transportation economics : theory and practice : a case study approach”. Blackwell.

Hensher, D., and Brewer, A (2001) “Transport : an economics and management perspective”, OUP

Gomez-Ibañez, J., Tye, W. and Winston, C. (eds) (1999) “Essays in transportation economics and policy : a handbook in honor of John R. Meyer”. Brookings Institution.

de Rus, G. and Nash, C.A. (eds) (1997). "Recent developments in transport economics". Ashgate.

Oum, T.H. et al (eds) (1995) "Transport economics : selected readings". Korea Research Foundation for the 21st century.

Polak, J.B and Heertje, A. (2000) “Analytical transport economics : an international perspective”. Edward Elgar

Small, K.A. and Verhoef, E.T. (2007). "The economics of urban transportation".Routledge.

Winston, C. (1985). "Conceptual Developments in the Economics of Transportation - An Interpretive Study", The journal of economic literature., 23, 57-94. (Also in Mohring (1994).)

Jansson, J.O. (1984). "Transport system optimization and pricing". John Wiley and Sons.

Mohring, H. (1994). "The Economics of transport: Volumes I and II". The International Library of Critical Writings in Economics 34, Edward Elgar.

Glaister, S. (197?) "Fundamentals of transport economics". Blackwell. (Out of print, but in the library).

Rees, R. (1984) "Public Enterprise Economics". Philip Allan. Also 2nd edition c1993.

Turvey, R. (1971) "Economic analysis and public enterprises". George Allen and Unwin. (out of print, but in the library).

Wohl, M. and Hendrickson, C. (1984). "Transportation investment and pricing principles : an introduction for engineers, planners and economists" Wiley Interscience. (Out of print, but in the library).

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Black, J. and Bradley, J. (1980). "Essential Mathematics for Economists". John Wiley and Sons. Chs 1 to 9.

Jacques, I. (1992), "Mathematics for Economics and Business." Addison Wesley, Chs 4-6.

Chiang, A.C. (c1990), "Fundamental Methods of Mathematical Economics". McGraw Hill.

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Button Ch 7

Small, K.A. and Verhoef, E.T. (2007). "The economics of urban transportation ".Routledge, Ch 4

Rees, R. (1984). "Public Enterprise Economics". Weidenfield and Nicholson.

Webb, M. (1976). "Pricing policies for public enterprises.". Macmillan

Turvey, R. (ed). (1968). "Public enterprise : selected readings ". Penguin.

Crew, M. and Kleindorfer, P. (1979) “Public Utility Economics”. Macmillan

Brown, S.J. and Sibley, D.S. (1986). "The theory of public utility pricing". Cambridge University Press.

Hotelling, H. (1938). "The General Welfare in Relation to Problems of Taxation and of Railway and Utility Rates". Econometrica..

Williamson, O.E. (1966). "Peak Load Pricing and Optimal Capacity Under Indivisibility Constraints", American economic review.

Glaister, S. (1976). "Peak Load Pricing and the Channel Tunnel. A Case Study", Journal of Transport Economics and Policy, 10, 2, 97-112.

Walters, A.A. (1960). "The Allocation of Joint Costs with Demands as Probability Distribution". American economic review., L, 419-432. (Also in Mohring (1994)).


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Rees, R. (1984). "Public Enterprise Economics". Weidenfield and Nicholson.

Webb, M. (1976). "Pricing policies for public enterprises.". Macmillan

Turvey, R. (ed). (1968). "Public enterprise : selected readings ". Penguin.

Trotter, S.D. (1985). "The Price-Discriminating Public Enterprise, with Special Reference to British Rail", Journal of Transport Economics and Policy, 9, 1, 41-64.

Carbajo, J. (1988), "The Economics of Travel Passes: Non-Uniform Pricing in Transport", Journal of Transport Economics and Policy.

Morrison, S.A. (1982), "The Structure of Landing Fees at Uncongested Airports: Application of Ramsey Pricing", Journal of Transport Economics and Policy, 16, 2, 151-160.

Baumol, W.J. and Bradford, D.F. (1970). "Optimal Departures from Marginal Cost Pricing", American economic review.w.

Nilsson, J.E. (1992). "Second Best Problems in Railway Infrastructure Pricing and Investment". Journal of Transport Economics and Policy, 26, 3, 245-259.

Lipsey, R.G. and Lancaster, K.G. (1956), "The General Theory of Second Best. The Review of Economic Studies.", 24, 11-32.

Preston, J. and Nash, C.A. (1993). "An Application of Second Best Pricing Theory". Technical Note 1. Urban Transport Market Theoretical Analysis Project. Unpublished. (On application to JPT)  

Glaister, S & Lewis, D (1978) "An Integrated Fares Policy for London", Journal of Public Economics. vol 9 pp341-355. Reprinted in Oum et al.

Preston, JM, Nash, CA and Toner, JP (1993) Working paper (University of Leeds, Institute for Transport Studies) ; 412

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Nash, C.A. (1978). "Management Objectives, Fares and Service Levels in Bus Transport".Journal of Transport Economics and Policy, 12, 70-85.

Glaister, S. and Collings, J.J. (1978). "Maximisation of Passenger Miles in Theory and Practice." Journal of Transport Economics and Policy, 12, 304-321. (Also in Mohring (1994)).

Oum, T.H., Zhang, A. and Zhang, Y. (1993). "Inter Firm Rivalry and Firm Specific Price Elasticities in Deregulated Airline Markets." Journal of Transport Economics and Policy. 171-192.

Dodgson, J., Katsoulacos, Y. and Newton, C.R. (1993). "An Application of the Economic Modelling Approach to the Investigation of Predation". Journal of Transport Economics and Policy.

Lerner, A. (1934). "The Concept of Monopoly and the Review of Monopoly Power". The Review of Economic Studies..

Van der Veer, JP, (2002) “Entry deterrence and quality provision in the local bus market”, Transport reviews., Vol. 22 Issue 3, p247-265




Button, Chs 4, 5.

Button, K.J. and Pitfield, D.E. (Eds) (1985) International railway economics : studies in management and efficiency Gower

Heathfield, D.F. and Wibe, S. (1987) An introduction to cost and production functions , Macmillan

Oum, T.H and Waters, W.G." Recent Developments in Cost Function Research in Transportation" in de Rus and Nash (eds) (1997) Recent developments in transport economics Ashgate

Small and Verhoef, Ch 3

Talley, W.K. (1988) Transport carrier costing. Gordon and Breach.

Winston, C. (1985) "Conceptual Developments in the Economics of Transportation: an Interpretive Survey" The journal of economic literature. vol 23 (March 1985) pp57-94

Diaz, J.R. (1982). "The Estimation of Transport Cost Functions: A Methodological Review", Transport reviews. 2, 3, 257-278.

Christensen, L.R., Jorgenson, D.W. and Lau, L.J. (1973), "Transcendental Logarithmic Production Frontiers", The review of economics and statistics., 55, 28-45.

Hensher, D.A. and Waters, W.G. (1993), "Using total factor productivity and data envelopment analysis for performance comparisons among government enterprises : concepts and issues." Working Paper 93-10, Institute of Transport Studies, University of Sydney.

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Harris, R.G. (1977). "Economies of Traffic Density in the Rail Freight Industry", The Bell Journal of Economics. 8, 2, 556-63.

Keeler, T.E. (1974). "Railroad Costs, Returns to Scale and Excess Capacity", The review of economics and statistics., 61, 201-208.

Caves, D.W., Christensen, L.R., Tretheway, M.W. and Windle, R.J. (1985), "Network Effects and the Measurement of Returns to Scale and Density for US Railroads", in Daughety, A.F. (Ed), "Analytical studies in transport economics", Cambridge University Press.

Jara-Diaz, S. and Winston, C. (1981), "Multiproduct Transportation Cost Functions: Scale and Scope in Railway Operations." in Blather, N. et al. (Eds) "Eighth European Association for research in Industrial Economics 1". University of Basle. [Not held at Leeds University Library]   OCR REQUESTED BY LIBRARY (MH 29/10/2021) 

Preston, J. et al. (1994), "European railway comparisons : final report." Working Paper 418. Institute for Transport Studies, University of Leeds.

Dodgson, J. (1985), "A Survey of Recent Developments in the Measurement of Rail Total Factor Productivity." In Button, K.J. and Pitfield, D.E. (Eds) "International railway economics : studies in management and efficiency."

Oum, T.H. and Yu, C. (1994). "Economic Efficiency of Railways and Implications for Public Policy: A Comparative Study of the OECD Countries' Railways." Journal of Transport Economics and Policy. 28, 2, 121-138.

Cowie, J. (2003). “Technical efficiency versus technical change: the British passenger train operators”, 8th International Conference on Competition and ownership in land passenger transport : selected refereed papers from the 8th International Conference (Thredbo 8), Rio de Janeiro, September 2003, Brazil, [error in link 24/07/2012]


Mackie, P.J. and Nash, C.A. (1983), "Efficiency and Performance Indicators - the Case of the Bus Industry." Public money. 2, 3.

Berechman, J. and Giuliano, C. (1985), "Economies of Scale in Bus transit: A Review of Concepts and Evidence." Transportation.12, 313-332.

Obeng, K. (1985), "Bus transit Cost, Productivity and Factor Substitution." Journal of transport Economics and Policy. 24, 2, 173-183.

Lee and Steedman (1970) Journal of transport Economics and Policy.

Wabe and Coles (1975) Journal of transport Economics and Policy.

Button and O'Donnell (1985) Scottish journal of political economy.

Mackie and Nash (1982) "Efficiency and Performance Indicators: the case of the bus industry" Public money.

Toner, JP, Smith, ASJ, Shen, S, Wheat, P (2010)  Review of Bus Profitability in England Econometric Evidence on Bus Costs: Final Report available from


Spady, R.H. and Friedlander, A.F. (1978), "Hedonic Cost Functions for the Regulated Trucking Industry." The Bell Journal of Economics, 9, 1, 159-179.

McMullan (1987) Journal of transport Economics and Policy.

Bruning and Olsen (1982) "Efficiency Indexes for Scale Economies in the motor carrier industry"  Journal of transport Economics and Policy.


Caves, Christensen and Tretheway, (1984) The Rand journal of economics.

Gillem, Oum and Tretheway, (1990) Journal of transport Economics and Policy.

Keeler and Formby (1994) International Journal of Transport Economics

McShan and Windle (1989) Logistics and transportation review.


Kraus, M. (1981), "Scale Economies Analysis for Urban Highway Networks." Journal of urban economics., 9, 1-22. (Also in Mohring (1994)).

Doganis and Thompson (1978) "The economics of British airports : report of an investigation sponsored by the Social Science Research Council" Polytechnic of Central London Research Report no. 5

Jansson and Schneerson (1982) "The Optimal Ship Size" Journal of transport Economics and Policy

De Borger and Nonneman (1981) "Statistical Cost Functions for Dry Bulk Carriers" Journal of transport Economics and Policy

Tauchen, Fravel and Gilbert (1983) "Cost Structure of the InterCity Bus Industry" Journal of transport Economics and Policy

Pagano and McKnight (1983) Journal of transport Economics and Policy on taxis



Mohring, H. (1972), "Optimisation and Scale Economies in Urban Bus Transportation", American economic review.

Mohring, H. and Turvey, R. (1975), "Optimal Bus Fares." Journal of transport Economics and Policy, 9, 3, 280-286. (Also in Mohring (1994)).

Jansson, J.O. (1980), "A Simple Bus Line Model for Optimisation of Service Frequency and Bus Size", Journal of transport Economics and Policy

Nash, C.A. (1988), "Integration of Public Transport: An Economic Assessment", in Dodgson, J.S. and Topham, N. (Eds), "Bus deregulation and privatisation : an international perspective".

Glaister, S. (1976), "Consumer Surplus and Public Transport Pricing." Economic journal. 849-867.

See also Jansson's book Transport system optimization and pricing and Mohring's book Transportation economics

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Walters, A.A. (1961), "The Theory and Measurement of Private and Social Cost of Highway Congestion", Econometrica. (Reprinted in Munby, D. (Eds), 1968 "Transport", Penguin and in Mohring, H. (1994)).

Maddison, D, Pearce, DW et al (1996) "Blueprint 5 : the true costs of road transport", Earthscan

Button, K. (1990), "Environmental Externalities and Transport Policy", Oxford review of economic policy., 6, 2.

Newbery, D.M. (1990), "Pricing and Congestion: Economic Principles Relevant to Pricing Roads." Oxford review of economic policy.. (reprinted in Oum et al)

Chartered Institute of Transport (1990), "Paying for progress : a report on congestion and road use charges."

Department of Transport (1993) "Paying for better motorways : issues for discussion", Cm2200

House of Commons Transport Committee (1994) "5th report [session 1993-94] : charging for the use of motorway" Session Papers 486 I-III

May, A.D. (1992), "Road Pricing: An International Perspective." Transportation. 19, 313-333.

Morrison, S. (1986), "A Survey of Road pricing." Transportation research. Part A, General.

Small, KA and Gomez-Ibanez, J (1994) "Road pricing for congestion management: the transition from theory to policy" in Oum et al. (eds) (1995) "Transport economics : selected readings ". Korea Research Foundation for the 21st century.

Evans, A.W. (1992), "Road Congestion Pricing: When is it a Good Policy?" Journal of Transport Economics and Policy, 26, 3, 213-243. See also the comment from Hills and the Rejoinder from A. Evans.

Borins, S. (1988), "Electronic Road Pricing - An Idea whose Time may Never Come." Transportation research. Part A, General.

Goodwin, P.B. (1989), "The Rule of Three: A Possible Solution to the Political Problem of Competing Objectives for Road Pricing." Traffic engineering and control., 30, 10.

Hau, T.D. (1990), "Electronic Road Pricing - Development in Hong Kong 1983-1989." Journal of Transport Economics and Policy. 3.

Wilson, PW (1988) "Welfare effects of congestion pricing in Singapore" Transportation..

Hau, T.D. (2006) Congestion charging mechanisms for roads, Part I - Conceptual framework, Transportmetrica., 2(2) pp87-116; Part II - Case studies pp117-152

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Small and Verhoef, Ch 3, 4

Glaister, S. (1987), "Transport subsidy", Policy Journals, Newbury. See in particular:

Gwilliam, K., "Market Failures, Subsidy and Welfare Maximisation", pp6-25 and

Glaister, S., "Allocation of Urban Public Transport Subsidy", pp27-39.

Dodgson, JS. “Benefits of Changes in Urban Public Transport Subsidies in the Major Australian Cities”, Economic record

Dodgson, JS and Topham, N (1987), “Benefit-cost rules for urban transit subsidies”, Journal of Transport Economics and Policy., 21(1)

Glaister,S. , The economic assessment of local transport subsidies in large cities, in: Any more fares? : delivering better bus services, Editor(s): Grayling, Institute for Public Policy Research, 2001

Gwilliam, KM (1984) "Aims and effects of public financial support for passenger transport" ECMT Round Table 67

Jackson, R. (1975), "Optimal Subsidies for Public Transit", Journal of Transport Economics and Policy, 9, 1, 3-15. See also:

Shilony, Y. (1981), "A Methodological Note on Welfare Calculus", Journal of Transport Economics and Policy, 15, 1, 69-72 and the rejoinder by Jackson (72-76).

Else, P.K. (1985), "Optimal Pricing and Subsidy for Scheduled Transport Services", Journal of Transport Economics and Policy, 19, 2, 263-279.

Frankena, M.W. (1983): ‘The Efficiency of Public Transport Objectives and Subsidy Formulas’,Journal of Transport Economics and Policy, 17, 67-76.

Glaister, S. and Lewis, D. (1978), "An Integrated Fares Policy for Transport in Greater London." Journal of Public Economics.. (reprinted in Oum et al)

Preston, J. (1994), "What does MUPPIT (Model of Urban Pricing Policy in Transport) Show?" PTRC, Seminar D. University of Warwick (or see ITS Working Paper 412).

Bly, P and Webster (1980) "The demand for public transport" TRRL

This list was last updated on 27/09/2021