The Pricing Mechanism Of High-speed Railway Passenger Based On Cost And Time Value

ABSTRACT:As a new transportation mode, high speed railway is an important symbol of modernization of transportation, and it represents the advanced productivity of railway transportation field. Compared with the ordinary railway, the public property of high speed railway is weakening, but its economic property is becoming more apparent. Not only the cost compensation requirements need to be considered, but also the diversification of investment parties return on capital requirement in the price level. Therefore, there are some different characteristics of decision-making mechanism, influence factors and fare calculation method between high speed rail and the traditional railway, which has been the subject of the theoretical and industrial circles concerned for a long time. For the pricing problem of high-speed rail, this paper aimed to draw experiences and lessons of transport mechanism and tariff reform from foreign high-speed railway and the existing railway, combined with the actual situation of passenger transport marketing of our country and the character of high speed rail’s operation, so as to explore the high speed railway price formation mechanism and pricing strategies, upon which the author put forward policy suggestions and practical conclusions.This paper discussed the mechanism of ticket pricing from two aspects, on one hand, this paper analyzed the impact of increased cost after the railroad shifts faster, which based on economic property of high speed rail and recalculated the cost excluding the government’s portion of equity investments; on the other hand, considering the influence of the time value for passenger. By comparing the two kinds of fares, the acceptable price cannot compensate for the cost of high speed railway, and it is at a loss. However, the indirect benefits and positive externality of high speed railway shouldn’t be ignored, such as the regional benefits, environmental benefits, social benefits, industrial consumer social benefit, and indirect benefit railway. The high speed railway brought great impetus for the development of macro economy. The central government and the local government should increase investment in high speed railway for the future benefits. Regional economic growth should be the complement of high speed railway construction, and increase the transfer payment for high-speed rail by adjusting the secondary distribution of the fiscal and taxation.