Working Papers, Swedish National Road & Transport Research Institute (VTI)
Marginal Railway Renewal Costs: A Survival Data Approach
Abstract: In this paper, renewal costs for railway tracks are
investigated using survival analysis. The purpose is to derive the effect
from increased traffic volumes on rail renewal cycle lengths and to
calculate associated marginal costs. A flow sample of censored data
containing almost 1 500 observations on the Swedish main railway network is
used. We specify Weibull accelerated failure time regression models, and
estimate deterioration elasticities for total tonnage as well as for
passenger and freight tonnages separately. Marginal costs are calculated as
a change in present values of renewal costs from premature renewal
following increased traffic volumes.
Keywords: Railway; Renewal; Survival analysis; Marginal costs; (follow links to similar papers)
JEL-Codes: C41; H54; L92; R48; (follow links to similar papers)
32 pages, August 23, 2007
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