CONTESTABILITY IN THE UK BUS INDUSTRY, EXPERIENCE GOODS AND ECONOMIES OF EXPERIENCE. FROM THE BOOK BUS DEREGULATION AND PRIVATISATION

This article has attempted to set out the recent developments in the liberalization of the UK industry in the specific context of contestability theory. In doing so it has offered some general discussion as to just how inherently contestable the bus market (or more accurately, the various bus markets) is and relate this to the post-deregulation story. More specifically, however, it has made an effort to consider the problems posed by market change--in other words the reality of moving from a long established and highly regulated market to one approximating that of a contestable model.