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Effect of the introduction of high-speed trains on consumer welfare

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Title Effect of the introduction of high-speed trains on consumer welfare
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Material Type Articles
Author(English)

Baek, Jisun

Publisher

Sejong, South Korea : Korea Development Institute

Date 2016-02
Journal Title; Vol./Issue KDI Journal of Economic Policy:vol. 38(no. 1)
Pages 30
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Territorial Development < Transport/Logistics
Holding Korea Development Institute
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Abstract

This paper examines the impact of introducing high-speed trains on consumer welfare, taking the ensuing changes in train schedules into account. Based on the estimated demand model for travel which incorporates consumer’s heterogeneous preferences for travel schedules into the standard discrete-choice model, I separately evaluate the impact from adding high-speed trains and that from changes in train schedules. The results indicate that consumers who travel between two cities connected by high-speed trains benefit from the introduction of high-speed trains, while some travelers whose choice set does not include high-speed trains face a reduced frequency of non-high-speed trains, resulting in significant losses.