Impact of network configuration on high-speed rail development and adoption

1. Description of the purpose of the research (20~40 words) We develop an analytical framework to study the impact of High Speed Rail (HSR) network configuration on incentives for capacity investments and social welfare. We focus on two alternative models for HSR development: isolated corridors and axial network structure. (39 words) 2. Introduction of your research design, methodology or approach (35~70 words) We consider a setting where a welfare-maximizing HSR operator decides lines’ capacity and quantities to supply in each market, subject to the capacity constraint. We also consider a two stage game: in the first stage, a welfare-maximizing infrastructure developer decides lines’ capacity and the charge for infrastructure use; in the second stage, a profit-maximizing HSR operator decides quantities to supply in each market, subject to the capacity constraint. (70 words) 3. Description of your (expected) research findings (35~70 words) We aim at providing guidance to shape future investments in HSR infrastructure by identifying the relevant factors for the success of alternative topologies: economies of density, market size and the opportunity cost of capital. In particular, we are able to isolate relevant constellations of parameters where a given network topology performs better in bringing higher capacity investments, ridership and social welfare. (61 words) 4. A short summary of the originality/contribution of your research paper (35~70 words) Our paper is the first attempt in the literature to provide an analytical framework to study the performance of alternative topologies of HSR networks, in terms of profitability, i.e., return on investment, and social welfare. In particular, the one-stage and the two-stage game may be relevant, respectively, in the Chinese and the European case study. (57 words) 5. A list of references that are most pertinent to your research (2~5 references). Campos, J., & De Rus, G. (2009). Some stylized facts about high-speed rail: A review of HSR experiences around the world. Transport policy, 16(1), 19-28. Givoni, M. (2006). Development and Impact of the Modern High‐speed Train: A Review. Transport reviews, 26(5), 593-611. Perl, A. D., & Goetz, A. R. (2015). Corridors, hybrids and networks: three global development strategies for high speed rail. Journal of Transport Geography, 42, 134-144. Wang, K., Xia, W., & Zhang, A. (2017). Should China further expand its high-speed network? Consider the low-cost carrier factor. Transportation Research Part A: Policy and Practice, 100, 105-120. Xia, W., & Zhang, A., (2016). High-speed rail and air transport competition and cooperation: A vertical differentiation approach. Transportation Research Part B: Methodological, 94, 456-481.