A comparative analysis of European railroads efficiency: a cost frontier approach

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Abstract:

The paper analyses the issue of cost efficiency for eight main European railroads in a sample period of 17 years. Measures of technical and allocative efficiency are obtained from a stochastic cost frontier model, with minimal cost described by a translog cost system. In the model, the cost of allocative inefficiency is estimated simultaneously from the shares' errors, whereas technical inefficiency is modelled by a (half normal) positive departure from the cost frontier. Results show a negligible effect of allocative inefficiency on firms' costs, whereas the cost of technical inefficiency appears to be significant.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/000368499323788

Publication date: July 1, 1999

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