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Slide 1

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Transport Economics
Part Two…read more

Slide 2

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Application to Transport
Markets…read more

Slide 3

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Application: Key Stuff!
Removal of Regulations
Selling a previously publicly
owned organisation to the private
A competitive system to bid for the
right to provide services…read more

Slide 4

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The Bus Market
Transport Act (1985), aimed to:
Increase steadily declining bus usage
Improve economic efficiency
Name fares
as many as you can before you look
Decrease subsidies
Promote investment in new buses
Increase contestability
Deregulated the market outside of London
Local Council owned monopolies
abolished, replaced with the requirement
for a VLO certificate…read more

Slide 5

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The Bus Market
Initially lots of new firms entered
the market
Competition was chaotic- "bus
Unfair competitive practices
were used: predatory pricing
and so on...
Today the market is more of an
oligopoly…read more

Slide 6

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The Bus Market
Main firms are First, Arriva,
Stagecoach etc.…read more

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Slide 8

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Slide 9

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Slide 10

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