The term light rail transit is defined for its use in this paper. This paper is concerned with that type of rail transit that permits electric operation of rail vehicles, singly or in trains, and is capable of subway, elevated, at-grade, and in-street operation on any given route. Economics and marketing are related in the same manner that revenue and expense are related. Adaptation of the service to maximize public response cost will confer public benefits to both the user and the taxpayer when more costly alternatives are relieved or avoided. The unique aspects of light rail transit in developing and conferring benefits are reviewed and analyzed. Light rail transit is often less costly and more convenient than full-scale rapid transit; it is often more efficient, attractive, and economical than conventional bus transit within its proper area of operation.
Abstract