The railways paper is moving along. We now have 23 estates in the dataset. We have shown that rent rose with the amount of track within a 40km radius of the estate. We have also shown that the year when the railway track near the estate was connected to London was statistically highly significant. This implies that the London market was really dominant. One result which is still a bit puzzling and which we are working on is the differences in elasticity. By elasticity, we mean the percentage change in rent caused by a percentage change in amount of track. The elasticities are really quite different....Holkham Hall for example is twice that of the smallest. This is interesting! The rate of increase may show us something about the relationship between landowner and tenant.