پویایی بازار در رقابت های راه آهن

Addressing these issues, the present paper studies a duopoly market through simulations. It builds on the hypothesis that competition occurs between trains with close departure times. Results indicate that total welfare increases significantly when going from profit-maximising monopoly to competition, as consumers make large gains while operators' profits fall. The way the regulator allocates departure slots has significant importance for market outcomes, including prices, frequencies and total welfare. In particular, it is possible to improve welfare by regulating the succession of departures. If trading in access rights is allowed, a would-be monopolist has incentives to buy its competitors' slots for a price they would accept. A monopolist that uses high frequency of departures as a deterrence strategy against competition increases frequency a lot compared to the profit-maximising level.