This authoritative new collection gathers together the issues important to the understanding of the challenges and problems of modern rail transport. Part I includes articles on costs and productivity, part II discusses pricing and part III looks at regulation and privatisation. Part IV examines econometric rail demand models. Part V focuses on disaggregate choice modelling and part VI covers investment. The editors have included not only classic papers by Griliches, Keeler and Caves et al on cost functions, Baumol on pricing and regulation and Foster and Beesley on investment, but also lesser known papers which pioneer up to date methods. Together these form a valuable collection of previously published articles which will be of interest to researchers and policy analysts in the industry and to academics and students specialising in rail transport policy and economics.