Effect of the Introduction of High-speed Trains on Consumer Welfare

Artikel

This paper examines the impact of introducing high-speed trains on consumer welfare, taking the ensuing changes in train schedules into account. Based on the estimated demand model for travel which incorporates consumer's heterogeneous preferences for travel schedules into the standard discrete-choice model, I separately evaluate the impact from adding high-speed trains and that from changes in train schedules. The results indicate that consumers who travel between two cities connected by high-speed trains benefit from the introduction of high-speed trains, while some travelers whose choice set does not include high-speed trains face a reduced frequency of non-high-speed trains, resulting in significant losses.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: KDI Journal of Economic Policy ; ISSN: 2586-4130 ; Volume: 38 ; Year: 2016 ; Issue: 1 ; Pages: 23-52 ; Sejong: Korea Development Institute (KDI)

Classification and Topics

• Classification: Wirtschaft ; Oligopoly and Other Imperfect Markets ; Railroads and Other Surface Transportation
• Subject: Endogenous product characteristics ; New product entry ; Consumer surplus ; Highspeed train ; Korea ; KTX

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Baek, Ji Sun
• Event: Veröffentlichung
• (who): Korea Development Institute (KDI)
• (where): Sejong
• (when): 2016

Further information

• DOI: doi:10.23895/kdijep.2016.38.1.23
• Handle: http://hdl.handle.net/10419/200782
• Last update: 10.03.2025, 11:42 AM CET