publication . Article . 2016

Deja vu all over again? Rail franchising in Britain.

Preston, John;
Open Access English
  • Published: 01 Nov 2016
This paper reviews the progress of passenger rail franchising in Britain since the mid-1990s, building on earlier contributions to the Thredbo Conferences and identifies five main phases. A welfare assessment suggests that the reforms were mildly welfare positive up to the middle of the third phase, but some concerning trends have emerged, not least the spiralling transaction costs associated with franchise bids and the apparent prevalence of strategic bidding. The problems that emerged, and some of the lessons learned, in the aborted award of the West Coast franchise in 2012 are assessed. A detailed assessment is also made of the East Coast franchise. The award...
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Article . 2016
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