We review evidence on airline hubs and supplement existing literature by our own data. We start with an outline of how hubs can be classified, followed by an analysis of the drivers of the importance of hubs to airlines and an investigation of whether regions differ in the intensity of hubbing. Subsequently, we review empirical studies that deal with the location of hubs and with the effects that hubs have on the hub operator, passengers and competition. Finally, we outline questions not yet answered by evidence and discuss the future of hubs. jel Classification: L 93
{"title":"Existing and new evidence on the effects of airline hubs.","authors":"Kai Hüschelrath, M. Schnell","doi":"10.1400/16903","DOIUrl":"https://doi.org/10.1400/16903","url":null,"abstract":"We review evidence on airline hubs and supplement existing literature by our own data. We start with an outline of how hubs can be classified, followed by an analysis of the drivers of the importance of hubs to airlines and an investigation of whether regions differ in the intensity of hubbing. Subsequently, we review empirical studies that deal with the location of hubs and with the effects that hubs have on the hub operator, passengers and competition. Finally, we outline questions not yet answered by evidence and discuss the future of hubs. jel Classification: L 93","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2004-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86372259","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Supply chain bottlenecks: border crossing inefficiences between Mexicoi and the United States.","authors":"M. P. Londono-Kent, H. Haralambides","doi":"10.1400/16909","DOIUrl":"https://doi.org/10.1400/16909","url":null,"abstract":"","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2004-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81339968","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
P. Coto-Millán, R. Sainz-Gonzáles, V. Sabando, G. Carrera-Gómez
The main contribution of this study is its use of the Box-Jenkins method to estimate passenger demand models for two different demand segments: business travel and leisure travel. This research presents an air traffic forecasting model based on an arima model. Firstly, we offer the intervention model for Easter, the number of working days and the impact of the iberia strike. Then we analyze day of week impact and carry out the forecasting. jel Classification: C53, L93, R41.
{"title":"AN AIR TRAFFIC DEMAND FORECASTING MODEL APPLIED TO SANTANDER AIRPORT","authors":"P. Coto-Millán, R. Sainz-Gonzáles, V. Sabando, G. Carrera-Gómez","doi":"10.1400/16910","DOIUrl":"https://doi.org/10.1400/16910","url":null,"abstract":"The main contribution of this study is its use of the Box-Jenkins method to estimate passenger demand models for two different demand segments: business travel and leisure travel. This research presents an air traffic forecasting model based on an arima model. Firstly, we offer the intervention model for Easter, the number of working days and the impact of the iberia strike. Then we analyze day of week impact and carry out the forecasting. jel Classification: C53, L93, R41.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2004-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75747621","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Shipping entities have in the past, on average, reported poor financial performance and yet have continued to retain and attract capital. This paper explores this apparent contradiction by investigating how alternative approaches to the question of asset revaluation affect financial performance calculations. Asset revaluation has traditionally been seen as reducing the value of assets in company accounts to reflect depreciation. However, economic theory suggests asset values are determined by expected future earnings, with fluctuations in expectations leading to increases or decreases in asset prices. In such circumstances, the use of the traditional accounting approach to calculate company rates of return will lead to errors. To illustrate this finding, data on the 120,000 dwt dry bulk carrier market is used to calculate company financial performance, defined as the 1 year rate of return, for a hypothetical single vessel shipping company on both the traditional accounting basis and the economic basis. The 2 approaches produce results that are both quantitatively different and uncorrelated, indicating that past use of the traditional method has resulted in an inaccurate, distorted picture of the financial performance of the shipping industry.
{"title":"Asset revaluation and company rates of return in the shipping industry","authors":"G. Wright","doi":"10.1400/16890","DOIUrl":"https://doi.org/10.1400/16890","url":null,"abstract":"Shipping entities have in the past, on average, reported poor financial performance and yet have continued to retain and attract capital. This paper explores this apparent contradiction by investigating how alternative approaches to the question of asset revaluation affect financial performance calculations. Asset revaluation has traditionally been seen as reducing the value of assets in company accounts to reflect depreciation. However, economic theory suggests asset values are determined by expected future earnings, with fluctuations in expectations leading to increases or decreases in asset prices. In such circumstances, the use of the traditional accounting approach to calculate company rates of return will lead to errors. To illustrate this finding, data on the 120,000 dwt dry bulk carrier market is used to calculate company financial performance, defined as the 1 year rate of return, for a hypothetical single vessel shipping company on both the traditional accounting basis and the economic basis. The 2 approaches produce results that are both quantitatively different and uncorrelated, indicating that past use of the traditional method has resulted in an inaccurate, distorted picture of the financial performance of the shipping industry.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2003-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75767465","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper analyzes the technical efficiency and technological change of Portuguese seaports. Depending on the managerial procedure adopted by management, improvements or deterioration of efficiency can be induced. In order to analyze the efficiency of the aforementioned activity, a benchmark procedure is employed: data envelopment analysis (DEA), which permits the separation of total productivity into technical efficiency and technological change. It is found that the seaport authorities, which are state-owned but in some cases have private exploration, did not achieve total productivity improvements in the period considered, with most of them achieving improvements in technical efficiency, but not all advancing in technological change, thus denoting that there is room for further improvement in this activity.
{"title":"THE MEASUREMENT OF EFFICIENCY OF PORTUGUESE SEA PORT AUTHORITIES WITH DEA","authors":"C. Barros","doi":"10.1400/16891","DOIUrl":"https://doi.org/10.1400/16891","url":null,"abstract":"This paper analyzes the technical efficiency and technological change of Portuguese seaports. Depending on the managerial procedure adopted by management, improvements or deterioration of efficiency can be induced. In order to analyze the efficiency of the aforementioned activity, a benchmark procedure is employed: data envelopment analysis (DEA), which permits the separation of total productivity into technical efficiency and technological change. It is found that the seaport authorities, which are state-owned but in some cases have private exploration, did not achieve total productivity improvements in the period considered, with most of them achieving improvements in technical efficiency, but not all advancing in technological change, thus denoting that there is room for further improvement in this activity.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2003-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87650427","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We derive an optimal airport-pricing model, both with and without a constraint on the revenues, that includes all relevant external marginal costs,. Given the results of the model we discuss the implications on the profit of airports, and find that given that the proceeds of the environmental charges are seen as revenue for the airport, it is not obvious that a marginal cost-pricing scheme would result in financial deficits for the airports, this despite the reasonable assumption of increasing returns to scale in airport capacity. Using relatively crude estimates of the marginal costs, we compare the current pricing scheme with a marginal cost pricing scheme. We find that the effect on revenues of moving towards a marginal cost pricing scheme may not be so dramatic; especially not if the marginal external costs include estimated marginal costs of CO2 emissions.
{"title":"Airport Marginal Cost Pricing: Discussion and an Application to Swedish Airports","authors":"F. Carlsson","doi":"10.1400/16888","DOIUrl":"https://doi.org/10.1400/16888","url":null,"abstract":"We derive an optimal airport-pricing model, both with and without a constraint on the revenues, that includes all relevant external marginal costs,. Given the results of the model we discuss the implications on the profit of airports, and find that given that the proceeds of the environmental charges are seen as revenue for the airport, it is not obvious that a marginal cost-pricing scheme would result in financial deficits for the airports, this despite the reasonable assumption of increasing returns to scale in airport capacity. Using relatively crude estimates of the marginal costs, we compare the current pricing scheme with a marginal cost pricing scheme. We find that the effect on revenues of moving towards a marginal cost pricing scheme may not be so dramatic; especially not if the marginal external costs include estimated marginal costs of CO2 emissions.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2003-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73310252","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Airport regulation is aimed to impose price caps or other schemes on services supplied by airports to airlines that use them. However, it is not clear that regulation benefits the final consumers, the passengers. In the context of a very simple model, this paper finds out that this doesn’t always happen, and that passengers may be worse off with price capping than in an unregulated equilibrium. Besides, the paper provides an insight of the results of other regulation approaches (other than price caps) that have been suggested for airports.
{"title":"Does airport regulation benefit consumers","authors":"C. Barbot","doi":"10.1400/16884","DOIUrl":"https://doi.org/10.1400/16884","url":null,"abstract":"Airport regulation is aimed to impose price caps or other schemes on services supplied by airports to airlines that use them. However, it is not clear that regulation benefits the final consumers, the passengers. In the context of a very simple model, this paper finds out that this doesn’t always happen, and that passengers may be worse off with price capping than in an unregulated equilibrium. Besides, the paper provides an insight of the results of other regulation approaches (other than price caps) that have been suggested for airports.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2003-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74688447","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Due to the steady increase in the use of private autos in Japan, the bus business is facing hard times. In particular, bus services owned by public organizations have been struggling with increases in operating deficits and subsidies, so that recently in many cities there has been a call for restructuring. Publicly and privately owned bus operators co-exist in the Japanese market. Although their financial situation is not completely healthy, privately owned bus operators have performed better than their publicly owned counterparts. The main purpose of this study is to find the key factors causing the differences in efficiency between private and public bus operators, especially in these areas: efficiency in service production, wage, utilization of vehicles, and cost. In this study, we will make an analysis using observations of both private and public bus operators in the Kansai region in Japan for the five years from 1996 to 2000. After we examine the performance differences between the two sectors, we will estimate with econometric methods certain functions such as the production function of bus services and the wage function. Based on these functions, we will evaluate the differences in efficiency between private and public bus operators.
{"title":"A Private-Public comparison of bus service operators.","authors":"T. Urakami, F. Mizutani","doi":"10.1400/16880","DOIUrl":"https://doi.org/10.1400/16880","url":null,"abstract":"Due to the steady increase in the use of private autos in Japan, the bus business is facing hard times. In particular, bus services owned by public organizations have been struggling with increases in operating deficits and subsidies, so that recently in many cities there has been a call for restructuring. Publicly and privately owned bus operators co-exist in the Japanese market. Although their financial situation is not completely healthy, privately owned bus operators have performed better than their publicly owned counterparts. The main purpose of this study is to find the key factors causing the differences in efficiency between private and public bus operators, especially in these areas: efficiency in service production, wage, utilization of vehicles, and cost. In this study, we will make an analysis using observations of both private and public bus operators in the Kansai region in Japan for the five years from 1996 to 2000. After we examine the performance differences between the two sectors, we will estimate with econometric methods certain functions such as the production function of bus services and the wage function. Based on these functions, we will evaluate the differences in efficiency between private and public bus operators.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2003-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86137197","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The increasingly long time spent on daily travels to work causes heavy economic and non-economic losses in many cities worldwide. Possible determinants of the length of urban trips to work can be found at different levels of spatial focus, based on demographic, socioeconomic, and transport infrastructure characteristics. Following a brief review of two broad hypotheses, the paper discusses theoretical fundamentals and results of alternative duration models applied to average work travel times across 92 cities in 66 countries. Estimates are fairly robust to sample size and specification of the hazard rate. Relatively smaller and /or wealthier cities tend to have higher hazard ratios, thus implying reduced average time spent in work trips. In two out of five parametric models, the shape of the hazard function is non-monotonic, with duration dependence changing from positive into mildly negative at a long spell stage. This outcome may be interpreted as a sign of possible 'stickiness' of travel time beyond a certain threshold of high urban congestion.
{"title":"Urban environment and travel times to work","authors":"S. Mainardi","doi":"10.1400/16881","DOIUrl":"https://doi.org/10.1400/16881","url":null,"abstract":"The increasingly long time spent on daily travels to work causes heavy economic and non-economic losses in many cities worldwide. Possible determinants of the length of urban trips to work can be found at different levels of spatial focus, based on demographic, socioeconomic, and transport infrastructure characteristics. Following a brief review of two broad hypotheses, the paper discusses theoretical fundamentals and results of alternative duration models applied to average work travel times across 92 cities in 66 countries. Estimates are fairly robust to sample size and specification of the hazard rate. Relatively smaller and /or wealthier cities tend to have higher hazard ratios, thus implying reduced average time spent in work trips. In two out of five parametric models, the shape of the hazard function is non-monotonic, with duration dependence changing from positive into mildly negative at a long spell stage. This outcome may be interpreted as a sign of possible 'stickiness' of travel time beyond a certain threshold of high urban congestion.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2003-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75729846","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Investment in shuttle elevators and the ability of these facilities to utilize the more competitive rates in attracting grain have the potential to influence future local grain flow patterns. This analysis provides an estimate of how shuttle train rates will impact grain flows in North Dakota's grain gathering network. In comparative terms, 2% of the elevators may originate up to 32% of the average annual flows of the grain produced in the state grains. Increased concentration of bushels has implications for local roads, elevators, short-line railroads, bridge infrastructure and local communities.
{"title":"Impact of shuttle rates on local grain flows.","authors":"K. Button, K. Vachal","doi":"10.1400/16866","DOIUrl":"https://doi.org/10.1400/16866","url":null,"abstract":"Investment in shuttle elevators and the ability of these facilities to utilize the more competitive rates in attracting grain have the potential to influence future local grain flow patterns. This analysis provides an estimate of how shuttle train rates will impact grain flows in North Dakota's grain gathering network. In comparative terms, 2% of the elevators may originate up to 32% of the average annual flows of the grain produced in the state grains. Increased concentration of bushels has implications for local roads, elevators, short-line railroads, bridge infrastructure and local communities.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2003-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87032356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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