Market-based regulation of freight transportation: A primer

Fifty years after the first issue of the Transportation Journal (TJ), we are still faced with the task of sorting through the consequences of transportation "deregulation." While the TJ is a fitting venue for such issues to be debated, it is imperative that authors use specific language and present arguments concisely. Classical microeconomic theory provides the best framework and lens for carrying out the coming debates. This primer on market-based regulation of transportation is presented as a starting point for such debates in the hope that the TJ will play an important role in providing a forum for future debates.