Towards an Economic Appraisal of Port Investments

Towards an Economic Appraisal of Port Investments

Containerisation and other new techniques call for large new investment in ports. How should this be allocated? The pricing system used by port authorities needs reform. The difficulties of cost-benefit analysis can be overcome by the use of calculated shadow prices. A central co-ordinating body is needed.

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Economies of Scale in Bus transport: I. Some British Municipal Results

This study was prompted by the proposal to merge a number of municipal transport undertakings into Passenger transport Authorities. The authors analyse figures showing various working expenses per bus-mile, and find no evidence of scale economies. They point out, however, that the P.T.A.s will be larger than any undertaking in their sample, and that a different conclusion might conceivably be reached if data were available on costs per passenger-mile. Extension of one-man operation appears to offer greater scope for economies than amalgamation.

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