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ABSTRACTThe purpose of this paper is to derive the demand functions corresponding to an intertemporal linear expenditure system in which goods are durable, and in which there are penalty costs for changes in planned stocks. Taste changes over time can be interpreted as changes in the technology converting goods into characteristics.

This paper explores the technical efficiency of the freight service divisions of the six state railway systems in Australia. A deterministic statistical 'best practice'-frontier is estimated and is then used as a reference or basis for measuring inefficiency within the freight service section of the Australian railway transport sector. The empirical model used in this context is the Cobb-Douglas production function. (DÜI-Sbt)