Regulatory Contracts and Cost Efficiency : Stochastic Frontier Evidence from the Italian Local Public Transport

  title={Regulatory Contracts and Cost Efficiency : Stochastic Frontier Evidence from the Italian Local Public Transport},
  author={Premio and Young Economist EARIE and Massimiliano Piacenza},
The main objective of this paper is to investigate the way subsidization mechanisms affect the cost efficiency of public transit systems, taking into account the role played by the environmental characteristics of each network. To this end, a cost frontier model is estimated for a seven-year (1993-1999) panel of 45 Italian transit companies run under two different regulatory schemes (cost-plus or fixed-price), using the methodology proposed by Battese and Coelli (1995). The main evidence is… CONTINUE READING
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