Implications of the cost of public funds in public transit subsidization and regulation
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- 作者：Yanshuo Suna ; yssun@umd.edu" class="auth_mail" title="E-mail the corresponding author ; Qianwen Guob ; guoqw3@mail.sysu.edu.cn" class="auth_mail" title="E-mail the corresponding author ; Paul Schonfelda ; pschon@umd.edu" class="auth_mail" title="E-mail the corresponding author ; Zhongfei Lib ; lnslzf@mail.sysu.edu.cn" class="auth_mail" title="E-mail the corresponding author
- 关键词：Public transit ; Subsidization ; Cost of public funds ; Social welfare
- 刊名：Transportation Research Part A: Policy and Practice
- 出版年：2016
- 出版时间：September 2016
- 年：2016
- 卷：91
- 期：Complete
- 页码：236-250
- 全文大小：500 K
文摘
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The impact of the cost of public funds (CF) on public transit subsidization is explored analytically.
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CF determines how much the passengers’ surplus is compromised to cover the fixed operating cost.
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A public operator’s decision can be reproduced from this model’s optimality conditions.
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Subsidy is justified until CF exceeds the critical shadow price of the financial constraint.