Introducing temporally differential fares to shift a portion of peak-hour demand to offpeak hours shows promise in mitigating the overcrowded Taipei Metro system during peak hours. This study looked to elucidate how Taipei Metro riders would change their times of travel or use of other travel modes, should peak-hour surcharge or off-peak discount fare schemes be introduced. Multinomial logit and nested logit models were employed to depict the riders’ stated behavior, in terms of arrival times and mode choices, within the context of a scenario involving tested differential fare levels. Results showed that introducing temporally differential fares would prompt a portion of peak-hour Metro riders to shift to off-peak periods, or even to choose the use of other modes. The Metro riders were sensitive to the tested differential fare levels, especially the peakhour surcharge. The afternoon riders were more sensitive to proposed fare changes than the morning riders. To implement the temporally differential fares successfully within the Metro system, it is suggested that peak hours be carefully designated and that peak-hour riders be clearly distinguished from off-peak riders.
{"title":"EFFECTS OF TEMPORALLY DIFFERENTIAL FARES ON TAIPEI METRO RIDERS’ MODE AND TIME-OF-DAY CHOICES","authors":"L. Lan, Hsiang-Yi Lee, C. Wen","doi":"10.1400/133652","DOIUrl":"https://doi.org/10.1400/133652","url":null,"abstract":"Introducing temporally differential fares to shift a portion of peak-hour demand to offpeak hours shows promise in mitigating the overcrowded Taipei Metro system during peak hours. This study looked to elucidate how Taipei Metro riders would change their times of travel or use of other travel modes, should peak-hour surcharge or off-peak discount fare schemes be introduced. Multinomial logit and nested logit models were employed to depict the riders’ stated behavior, in terms of arrival times and mode choices, within the context of a scenario involving tested differential fare levels. Results showed that introducing temporally differential fares would prompt a portion of peak-hour Metro riders to shift to off-peak periods, or even to choose the use of other modes. The Metro riders were sensitive to the tested differential fare levels, especially the peakhour surcharge. The afternoon riders were more sensitive to proposed fare changes than the morning riders. To implement the temporally differential fares successfully within the Metro system, it is suggested that peak hours be carefully designated and that peak-hour riders be clearly distinguished from off-peak riders.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":"19 1","pages":"1000-1022"},"PeriodicalIF":0.6,"publicationDate":"2010-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75332967","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}
In this paper, we investigate the theoretical and empirical relevance of the distinction between generic goods and specific goods for the understanding of freight transportation demand. Specific goods are made for a single customer while generic goods are produced irrespective of which final customer will buy them. Theoretically, the distinction lays on a different relationship with time, based, for specific goods, on the trade-off between transport duration and cost and, for generic goods, on optimal stock. We claim that the distinction might affect shippers’ valuation of freight transport attributes such as value of time, value of transport time reliability and value of the risk of loss and damages. Since neither the sign nor the size of the effect can be established on pure theoretical grounds, an empirical analysis is carried out to test whether shippers value freight service attributes differently for the two types of goods. It is found that the value of transport time is significantly larger for generic than for specific goods.
{"title":"SPECIFIC VS GENERIC GOODS:IMPLICATIONS FOR TRANSPORT DEMAND ANALYSIS","authors":"Jérôme Massiani, R. Danielis, E. Marcucci","doi":"10.1400/117511","DOIUrl":"https://doi.org/10.1400/117511","url":null,"abstract":"In this paper, we investigate the theoretical and empirical relevance of the distinction between generic goods and specific goods for the understanding of freight transportation demand. Specific goods are made for a single customer while generic goods are produced irrespective of which final customer will buy them. Theoretically, the distinction lays on a different relationship with time, based, for specific goods, on the trade-off between transport duration and cost and, for generic goods, on optimal stock. We claim that the distinction might affect shippers’ valuation of freight transport attributes such as value of time, value of transport time reliability and value of the risk of loss and damages. Since neither the sign nor the size of the effect can be established on pure theoretical grounds, an empirical analysis is carried out to test whether shippers value freight service attributes differently for the two types of goods. It is found that the value of transport time is significantly larger for generic than for specific goods.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":"29 1","pages":"1000-1019"},"PeriodicalIF":0.6,"publicationDate":"2009-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75724510","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 paper first reviews a model previously developed by the authors which examines how a public transport operator who is concerned about both profit and consumer surplus will design a uniform fare scheme and the relationship between fare and travel distance within such a scheme. Using the results of this model as a starting point, this paper focuses on how the fare’s proportion of travellers’ generalised costs and fare elasticity are linked to travel distance. It is shown that how these figures relate to trip length is critically dependent on the weight the transport operator puts on profit and the assumptions made about the demand conditions. Some of the model’s results are discussed in the light of Norwegian data for bus and ferry transport.
{"title":"The Relationship between Fare Elasticity and Trip Length : Some Comments.","authors":"F. Jørgensen, J. Preston","doi":"10.1400/117510","DOIUrl":"https://doi.org/10.1400/117510","url":null,"abstract":"The paper first reviews a model previously developed by the authors which examines how a public transport operator who is concerned about both profit and consumer surplus will design a uniform fare scheme and the relationship between fare and travel distance within such a scheme. Using the results of this model as a starting point, this paper focuses on how the fare’s proportion of travellers’ generalised costs and fare elasticity are linked to travel distance. It is shown that how these figures relate to trip length is critically dependent on the weight the transport operator puts on profit and the assumptions made about the demand conditions. Some of the model’s results are discussed in the light of Norwegian data for bus and ferry transport.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":"306 1","pages":"1000-1015"},"PeriodicalIF":0.6,"publicationDate":"2009-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79863413","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}
Budget constraints are forcing many governments to consider implementing tolls as a means for financing bridge and road expenditures. Newly available time series data make it possible to analyze the impacts of toll variations and international business cycle fluctuations on cross-border bridge traffic between El Paso and Ciudad Juarez. Parameter estimation is carried out using a linear transfer function ARIMA methodology. Price elasticities of demand are similar to those reported for other regional economies, but out-of-sample forecasting results are mixed.
{"title":"Tolls, Exchange Rates, and Borderplex International Bridge Traffic","authors":"Marcycruz De Leon, T. Fullerton, Brian W. Kelley","doi":"10.1400/115953","DOIUrl":"https://doi.org/10.1400/115953","url":null,"abstract":"Budget constraints are forcing many governments to consider implementing tolls as a means for financing bridge and road expenditures. Newly available time series data make it possible to analyze the impacts of toll variations and international business cycle fluctuations on cross-border bridge traffic between El Paso and Ciudad Juarez. Parameter estimation is carried out using a linear transfer function ARIMA methodology. Price elasticities of demand are similar to those reported for other regional economies, but out-of-sample forecasting results are mixed.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":"15 1","pages":"1000-1037"},"PeriodicalIF":0.6,"publicationDate":"2009-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87219503","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 addresses the issue of funding and pricing urban transportation, adopting a perspective coming back to the roots of the funding crisis in the 70's. The history of urban transportation systems seems to oscillate between paralysis and a financial disaster. This structural weakness is analyzed as the outcome of a conflict between individual and collective satisfaction. Different kinds of responses of the public authorities are assessed, whether financial ones at the risks of huge deficits, allocation of road space to public transport at the risks of reducing overall transport speed, or charging for road use in urban areas. Modelling exercises, assessment of ongoing schemes, efficiency issues as well as acceptability issues are considered in order to discuss the relevance of this last option.
{"title":"The Funding of Urban Transportation and the Issue of Road Pricing","authors":"A. Bonnafous, C. Raux","doi":"10.1400/115952","DOIUrl":"https://doi.org/10.1400/115952","url":null,"abstract":"This paper addresses the issue of funding and pricing urban transportation, adopting a perspective coming back to the roots of the funding crisis in the 70's. The history of urban transportation systems seems to oscillate between paralysis and a financial disaster. This structural weakness is analyzed as the outcome of a conflict between individual and collective satisfaction. Different kinds of responses of the public authorities are assessed, whether financial ones at the risks of huge deficits, allocation of road space to public transport at the risks of reducing overall transport speed, or charging for road use in urban areas. Modelling exercises, assessment of ongoing schemes, efficiency issues as well as acceptability issues are considered in order to discuss the relevance of this last option.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":"39 1","pages":"1000-1025"},"PeriodicalIF":0.6,"publicationDate":"2009-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81453007","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}
Prospects and Pitfalls of Public-Private Partnerships in Railway Transportation : Theoretical Issues and Empirical Experience
铁路运输公私合作的前景与陷阱:理论问题与实证经验
{"title":"PROSPECTS AND PITFALLS OF PUBLIC-PRIVATE PARTNERSHIPS IN RAILWAY TRANSPORTATION - THEORETICAL ISSUES AND EMPIRICAL EXPERIENCE *","authors":"G. Alexandersson, S. Hultén","doi":"10.1400/109329","DOIUrl":"https://doi.org/10.1400/109329","url":null,"abstract":"Prospects and Pitfalls of Public-Private Partnerships in Railway Transportation : Theoretical Issues and Empirical Experience","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":"4 1","pages":"97-119"},"PeriodicalIF":0.6,"publicationDate":"2009-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83768042","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 author uses a case study of student transportation by public bus in Linkoping, Sweden, to discuss the possibility of public transportation peak demand spread through staggered school hours. The study found that introducing a staggered morning start for Linkoping's high schools can substantially reduce extreme morning peak at only one departure point on Linkoping's many lines. It demonstrated that bus service cost savings from the leveling out of the extreme morning peak could be of the same magnitude as costs for students resulting from a change in school hours. Staggered school hours could introduce other changes that could benefit the bus transportation system while reducing student costs. Cooperation between the public transportation authority and the high school headmasters is the biggest challenge.
{"title":"Staggered School Hours to Spread Peak Demand for Public Transport. Benefits and Costs","authors":"Anders Ljungberg","doi":"10.1400/109331","DOIUrl":"https://doi.org/10.1400/109331","url":null,"abstract":"The author uses a case study of student transportation by public bus in Linkoping, Sweden, to discuss the possibility of public transportation peak demand spread through staggered school hours. The study found that introducing a staggered morning start for Linkoping's high schools can substantially reduce extreme morning peak at only one departure point on Linkoping's many lines. It demonstrated that bus service cost savings from the leveling out of the extreme morning peak could be of the same magnitude as costs for students resulting from a change in school hours. Staggered school hours could introduce other changes that could benefit the bus transportation system while reducing student costs. Cooperation between the public transportation authority and the high school headmasters is the biggest challenge.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":"44 1","pages":"1000-1020"},"PeriodicalIF":0.6,"publicationDate":"2009-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90624792","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}
An aggregate analysis for domestic travel in Greece between 1994-2004 involving the substitution and complementarity relationships among all available transportation modes is presented in this paper. Based on consumer demand theory, the proposed model builds on the Almost Ideal Demand System. It processes factors including Greek household travel budget allocation and demand temporal and spatial variability. Distinct travel commodities' different natures are revealed through results, which extended panel demand system application obtained. The study also indicates the existence of Greek passenger transportation market complementarity relationships as well as significant substitution. Study findings can provide useful transportation policies formulation and assessment insights focusing on increasing integrated public transportation mode use and managing private vehicle travel demand.
{"title":"Consumer Demand Analysis of Complementarity-Substitution Relationships Among Passenger Transport Modes in Greece","authors":"T. Tsekeris","doi":"10.1400/99570","DOIUrl":"https://doi.org/10.1400/99570","url":null,"abstract":"An aggregate analysis for domestic travel in Greece between 1994-2004 involving the substitution and complementarity relationships among all available transportation modes is presented in this paper. Based on consumer demand theory, the proposed model builds on the Almost Ideal Demand System. It processes factors including Greek household travel budget allocation and demand temporal and spatial variability. Distinct travel commodities' different natures are revealed through results, which extended panel demand system application obtained. The study also indicates the existence of Greek passenger transportation market complementarity relationships as well as significant substitution. Study findings can provide useful transportation policies formulation and assessment insights focusing on increasing integrated public transportation mode use and managing private vehicle travel demand.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":"38 11-12","pages":"1000-1035"},"PeriodicalIF":0.6,"publicationDate":"2008-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72483020","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}
In time series analysis, especially in non-linear time series, a school appeared after 1963. The classical school argued share price variations obey the normal distribution law and are random, in which case observations are identically distributed and independent. Although Brown (1828), Bachelier (1900), and Einstein (1905) created the background, the well-known AR(IMA) models were invented by Yule (1927). The modern school argued that time series appear to be random with a behavior under determinism, are subject to power law, and have a long run memory. Recent (nonlinear) work has not related to shipping freight derivatives, but to ship prices and freight markets. Derivatives are known as a shipping risk management means. According to the classical theory, derivative value should relate to volatility and reward, and volatility relates to standard deviation, provided the randomness of freight rates, for freight market risk management. That, to the shipping industry and its bankers, risk management is an alien concept, was written about by Stokes (1997). Stokes likened the typical shipowner to a speculator or a gambler who enjoys making large bets, and, in the hope of winning an enormous prize, risks liberal amounts of money. The authors' personal experience is that Greek shipowners, at least, are conservative. There are times when it is true, however, that in a three-year (ship) operation, more money comes from a single asset's sale than its use. Both tremendous failures and unbelievable fortunes have been created by the shipping industry, and the bankers pick up the pieces at day's end. People are attracted to the industry by massive successes, such as those seen in recent years, and repelled by failures. That risk must be managed is of no doubt, for it certainly exists. Understanding relevant market natures allow this best to be achieved. The authors demonstrate that shipping freight derivatives are persistent, while freight markets are anti-persistent, rather than random. Interaction between two opposing forces seems to occur through this phenomenon. Shipping freight market analysis must be done in a general finance context. Mandelbrot-Hudson (2004) approach applications suggests that a catastrophe's real chances of happening range between 1/10 and 1/30, or, in other words, it is much greater than what would be indicated by random walk.
{"title":"Do Nonlinear Tools Make a Difference in Handling Shipping Derivatives","authors":"Matina A. Goulielmos, A. Goulielmos","doi":"10.1400/99567","DOIUrl":"https://doi.org/10.1400/99567","url":null,"abstract":"In time series analysis, especially in non-linear time series, a school appeared after 1963. The classical school argued share price variations obey the normal distribution law and are random, in which case observations are identically distributed and independent. Although Brown (1828), Bachelier (1900), and Einstein (1905) created the background, the well-known AR(IMA) models were invented by Yule (1927). The modern school argued that time series appear to be random with a behavior under determinism, are subject to power law, and have a long run memory. Recent (nonlinear) work has not related to shipping freight derivatives, but to ship prices and freight markets. Derivatives are known as a shipping risk management means. According to the classical theory, derivative value should relate to volatility and reward, and volatility relates to standard deviation, provided the randomness of freight rates, for freight market risk management. That, to the shipping industry and its bankers, risk management is an alien concept, was written about by Stokes (1997). Stokes likened the typical shipowner to a speculator or a gambler who enjoys making large bets, and, in the hope of winning an enormous prize, risks liberal amounts of money. The authors' personal experience is that Greek shipowners, at least, are conservative. There are times when it is true, however, that in a three-year (ship) operation, more money comes from a single asset's sale than its use. Both tremendous failures and unbelievable fortunes have been created by the shipping industry, and the bankers pick up the pieces at day's end. People are attracted to the industry by massive successes, such as those seen in recent years, and repelled by failures. That risk must be managed is of no doubt, for it certainly exists. Understanding relevant market natures allow this best to be achieved. The authors demonstrate that shipping freight derivatives are persistent, while freight markets are anti-persistent, rather than random. Interaction between two opposing forces seems to occur through this phenomenon. Shipping freight market analysis must be done in a general finance context. Mandelbrot-Hudson (2004) approach applications suggests that a catastrophe's real chances of happening range between 1/10 and 1/30, or, in other words, it is much greater than what would be indicated by random walk.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":"11 1","pages":"1000-1027"},"PeriodicalIF":0.6,"publicationDate":"2008-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81125182","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 impact of public bus transportation competition in Israel six years after its 2000 introduction is evaluated in this paper. A detailed analysis is presented on competition's impact on ridership, level of service, and fare for each line cluster put out for tender. There is estimation of competition's contribution to the national economy in terms of long-term subsidy savings and service costs, as are consumer surplus changes. The government subsidy to public transportation has so far been reduced by competition by NIS 95 million, while it has created an estimated NIS 120 million increase in consumer surplus. Together, these figures represent 7% of total service cost pre-competition. Tendering resulted in an actual real cost per bus-kilometer savings range of 18%-46%. There was a 7%-58% ridership increase range in most competition clusters.
{"title":"The Economic Benefits from Competition in Bus Public Transport - The Israeli Case","authors":"Y. Shiftan, Nir Sharaby","doi":"10.1400/99569","DOIUrl":"https://doi.org/10.1400/99569","url":null,"abstract":"The impact of public bus transportation competition in Israel six years after its 2000 introduction is evaluated in this paper. A detailed analysis is presented on competition's impact on ridership, level of service, and fare for each line cluster put out for tender. There is estimation of competition's contribution to the national economy in terms of long-term subsidy savings and service costs, as are consumer surplus changes. The government subsidy to public transportation has so far been reduced by competition by NIS 95 million, while it has created an estimated NIS 120 million increase in consumer surplus. Together, these figures represent 7% of total service cost pre-competition. Tendering resulted in an actual real cost per bus-kilometer savings range of 18%-46%. There was a 7%-58% ridership increase range in most competition clusters.","PeriodicalId":44910,"journal":{"name":"International Journal of Transport Economics","volume":"6 1","pages":"1000-1023"},"PeriodicalIF":0.6,"publicationDate":"2008-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85131186","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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