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on Transport Economics |
| By: | Tom Cohen (UCL Centre for Transport Studies); Clémence Cavoli (UCL Centre for Transport Studies) |
| Abstract: | The possible consequences of the advent of fully automated vehicles (AVs) for personal transport are assessed. A shared-user model is considered preferable to an owner-user model; public-sector intervention is considered necessary to secure the successful integration of AVs with mass transit. Interurban expressways are found to offer a better opportunity than urban roads of capturing the vehicles' potential traffic and safety benefits. AVs' performance in a mixed-fleet scenario is highly dependent on segregation from other road users, but segregation poses significant challenges.The governance of a range of themes (such as demand management and security) is considered. In each case, challenges to achieving a socially desirable outcome are identified. Both laissez-faire and more interventionist styles of governance with respect to AVs present problems but laissez faire may carry greater risk. Decisions on governance should be based on meaningful dialogue with those who stand to be affected. |
| Date: | 2017–07–20 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2017/07-en&r=tre |
| By: | Markus Rebstock (University of Applied Sciences) |
| Abstract: | Accessibility is one of the key aspects of current transport planning, especially in reliance to public transport and pedestrian traffic facilities. This paper deals with this subject by outlining which are or could be the benefits of improved accessibility to the transport system with a special focus on economic benefits and the tourism sector. Therefore selected existing studies will be analysed. Besides the legal background and social aspects of accessibility related to the transport sector will be covered. The first section deals with the legal background and social aspects of accessibility in the transport sector. It shows that nowadays in many countries accessibility of transport systems is not a voluntary task but a task bound by law and that an accessible environment is not only essential for people with disabilities and necessary for up to 40% of the population but also a matter of comfort for all users. The second section outlines which are or could be the economic benefits of improved accessibility to the transport system. Two studies from Norway used the states preference method to monetize and prioritise different universal design measures. In general this method seems to work also as a tool for analyzing economic benefits of accessibility measures. Nevertheless the results of these studies have to be interpreted with extreme caution in order to avoid discrimination. The third section deals with the economic impact of accessible tourism using the example of Europe. The inducible impact of accessible tourism on the transport sector as well as the relevance of passenger transportation for accessible tourism on the transport sector as well as the relevance of passenger transportation for accessible tourism is elaborated. All in all accessible tourism produces a huge economic impact on the tourism sector and beyond, and by improving accessibility in the future a significant raise on of economic benefits is possible. In general traffic is precondition for tourism. Besides tourists spend a significant part of their travel expenses for the journey to the destination and back and for local transportation. This makes it clear that accessible transport systems will directly benefit from an increasing accessible tourism market. |
| Date: | 2017–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2017/04-en&r=tre |
| By: | Malakhov, Sergey |
| Abstract: | The model of equilibrium price dispersion examines the demand for cars through the optics of the demand for mileage where the asymmetry of information is produced by the odometer fraud. Theoretically, fraudsters can destroy the market as it is described by the “theorem of lemons”. But the market self-deactivation does not take place. The purchase of a car with regard to the demand for mileage represents a form of home production where driving like gardening and pets’ care provide a direct utility but is also something one can purchase on the market. At the margin nobody buys but everybody gets taxi. The increase in taxi price per mile raises the demand for good cars of taxi drivers and it makes rational for potential buyers to pay for taxi drivers expertize fee in order to choose a good car. The demand for good cars is restored at the new price level. The pessimistic scenario, however, doesn’t take place because good cars stay attractive. The equilibrium price of a mile establishes the direct relationship between marginal savings on purchase and the time horizon of the consumption-leisure choice. Great discounts provide potential buyers the additional information about short life cycle of vehicles like unexpected low price for beefsteak tells about its short shelf life. The equilibrium price of a mile describes also the trade-off between the purchase price and the costs of ownership. The marginal approach does not rely on the endowment effect. The choice between a good car and a bad car discovers the willingness to take care of good cars where the after-the-purchase costs of ownership per mile become greater than for a bad car. The willingness to take care of the big-ticket quality items reinforces the willingness to pay of potential buyers, and sellers of good cars do not quit the market. |
| Keywords: | : theorem of lemons, equilibrium price dispersion, optimal consumption-leisure choce, willingness to take care of big-ticket items |
| JEL: | D11 D83 |
| Date: | 2018–08–22 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:88594&r=tre |
| By: | Jan K. Brueckner; Ricardo Flores-Fillol |
| Abstract: | Convenient scheduling, characterized by adequate flight frequency, is the main quality attribute for airline services. However, the effect of airline alliances on this important dimension of service quality has received almost no attention in the literature. This paper fills this gap by providing such an analysis in a model where flight frequency affects schedule delay and connecting layover time. While an alliance raises service quality when layover time has zero cost, the reverse occurs when layover time is costly. The source of this surprising result is that costly layovers eliminate the additive structure of the full trip price, which consists of the sum of the subfares plus the weighted sum of the reciprocal flight frequencies when layover cost is zero. The paper also shows that nonaligned carriers adjust frequencies to suit passenger preferences in business and leisure markets, while an alliance is less responsive to such preference differences. With hub-airport congestion, greater internalization by allied carriers tends to reduce frequency, but this force is not enough to overturn the positive alliance effect in the low-cost layover case. |
| Keywords: | service quality, alliance, double marginalization, congestion |
| JEL: | D43 L13 L40 L93 R40 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_7226&r=tre |
| By: | Ignacio Tiznado-Aitken; Juan Carlos Muñoz; Ricardo Hurtubia |
| Abstract: | Cities face the daily challenge of providing people with access to different activities through their public transport systems. Despite its importance, there is little research on accessibility that focuses on the use of this mode and even less accounting for the impact of level of service (i.e. travel time, waiting time, reliability, comfort and transfers). Thus, the aim of this paper is to propose a methodology to determine how access to opportunities and basic services through public transport systems is distributed in cities, and how the perceived level of service decreases or accentuates the existing gaps. Three indicators are calculated for Santiago based on data from public transport operations, smart card validations and georeferenced information: walking accessibility to public transport stops considering the quality of urban furniture, safety and environment; connectivity provided by the system in each area to the rest of the city considering the level of service through a measure of generalised time (in-vehicle time); and a measure of attractiveness of the destinations, based on number of trips attracted by purpose. The methodology is applied to a case study in Santiago, a highly unequal and segregated city. The results show that the accessibility gap between disadvantaged areas and more wealthy neighborhoods of the city increases if the user's perception of level of service for public transport is considered. We show that the three proposed indicators provide different dimensions of accessibility suggesting how and where to intervene to effectively improve equity. Thus, the indicators could be used to assist the prioritisation and focus of investment plans, the design process of urban policies or transport infrastructure and become a key input for planners and decision-makers. |
| Date: | 2016–10–13 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2016/15-en&r=tre |
| By: | Odile Heddebaut (Université Paris-Est) |
| Abstract: | This paper presents the evolution of public transport contracts in France and the historical and legal contexts which led to their reorganisation. We first examine the evolution of the territorial distribution of institutional powers in transportation mainly for passengers. A focus is made on the regional passenger railway reform in France that allowed the 20 French metropolitan regions to become transport organising authorities following a first experiment by seven volunteer regions. The Nord-Pas de Calais region is taken as an example. Then the urban public transport contracts are analysed focussing on different possibilities of contract and finally, the specific case of transport organisation in the Paris Île-de-France region is studied. |
| Date: | 2017–08–04 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2017/11-en&r=tre |
| By: | Meng Liu; Erik Brynjolfsson; Jason Dowlatabadi |
| Abstract: | Digital platforms like Uber can enhance market transparency and mitigate moral hazard via ratings of buyers and sellers, real-time monitoring, and low-cost complaint channels. We compare driver choices at Uber with taxis by matching trips so they are subject to the same optimal route. We also study drivers who switch from taxis to Uber. We find: (1) drivers in taxis detour about 7% on airport routes, with non-local passengers experiencing longer detours; (2) these detours lead to longer travel times; and (3) drivers on the Uber platform are more likely to detour on airport routes with high surge pricing. |
| JEL: | D8 D86 L15 L91 M52 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:25015&r=tre |
| By: | Norbert Ligterink (TNO) |
| Abstract: | Real-world vehicle emissions differ from the legislative emissions limits for a number of reasons. Emissions can be substantially lower but in most cases emissions in real driving conditions are higher than the type-approval values. This is especially the case for NOx emissions from diesels. Between Euro 1 and Euro 5 standards the European NOx limit decreased by a factor of five but real-world NOx emissions have remained more or less constant. High real-world NOx emissions from light and heavy-duty diesels are the main cause of high NO2 concentrations in cities. Some Euro 6 vehicles now show real-world NOx emissions close to the limit, but many vehicle models still exceed the limit by a factor of eight in real-world driving conditions. This report outlines the main reasons for the deviations and discusses the implications for managing air pollution. The European situation is taken as example. |
| Date: | 2017–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2017/06-en&r=tre |
| By: | Rivera, Nathaly M. |
| Keywords: | Resource/Energy Economics and Policy, Research Methods/Statistical Methods, Environmental Economics and Policy |
| Date: | 2017–06–15 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea17:259182&r=tre |
| By: | Camila Rodríguez Hernández; Tatiana Peralta-Quiros |
| Abstract: | In order to meet the challenges of providing affordable public transit services for the urban poor and at a cost that doesn’t impinge on the system’s financial sustainability, cities can consider setting fares at “cost recovery” levels for the majority of the population and targeting subsidies to those who need them most. Bogotá is a case in point—the new public transport system was designed so fares are set close to “cost recovery” levels to aim for greater financial sustainability. To provide affordable services, the city leveraged the adoption of smartcards in its new public transit system and the country’s poverty targeting instruments to implement a pro-poor public transit subsidy. This paper presents a critical analysis of Bogotá’s experience with trying to balance financial sustainability and affordability. The paper describes some of the features of Bogota’s tariff policy, namely, the concept of tariff set at “cost recovery” levels and lessons learnt in trying to achieve financial sustainability. The paper also lays out the rationale, design and implementation of Bogota’s pro-poor public transit subsidy, and the subsidy’s impact on its beneficiaries. |
| Date: | 2016–10–13 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2016/16-en&r=tre |
| By: | Stephan Heblich; Stephen J. Redding; Daniel M. Sturm |
| Abstract: | Modern metropolitan areas involve large concentrations of economic activity and the transport of millions of people each day between their residence and workplace. We use the revolution in transport technology from the invention of steam railways, newly-constructed spatially-disaggregated data for London from 1801-1921, and a quantitative urban model to provide evidence on the role of these commuting flows in supporting such concentrations of economic activity. Steamrailwaysdramaticallyreducedtraveltimesandpermittedthefirstlarge-scaleseparationof workplace and residence. We show that our model is able to account for the observed changes in the organization of economic activity, both qualitatively and quantitatively. In counterfactuals, we find that removing the entire railway network reduces the population and the value of land and buildings in Greater London by 20 percent or more, and brings down commuting into the City of London from more than 370,000 to less than 60,000 workers. |
| Keywords: | agglomeration, urbanization, transportation |
| JEL: | O18 R12 R40 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1573&r=tre |
| By: | Laurs, DK (Tilburg University, Center For Economic Research); Renneboog, Luc (Tilburg University, Center For Economic Research) |
| Abstract: | This paper investigates the price determinants and investment performance of classic cars comprising various categories starting from veteran cars (built between 1888 and 1907) up to modern classics (built between 1975 and 1990). We examine a sample of 29,000 classic car auction sales conducted globally between 1998 and 2017. A hedonic pricing methodology is used to construct several classic car price indices, which enable a risk-return analysis. Classic cars appreciated annually by 3.37% and 5.63%, respectively in real and in nominal terms before transaction costs. Investments in ‘blue chip’ classic cars (12.50%) and Italian classics (11.28%) generate the highest annual nominal returns. On a risk-adjusted basis, classic cars have outperformed equity and other emotional assets such as art, but underperformed bonds and gold over the past two decades. The risk-adjusted returns on the category of affordable classics are similar to those of equity investments. |
| Keywords: | Alternative investments; collectibles; emotional assets; hedonic regression |
| JEL: | G11 G12 Z11 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiucen:8f244bbd-b78b-491b-9021-df093fb5a7e2&r=tre |
| By: | Jonas Eliasson (Royal Institute of Technology) |
| Abstract: | This paper discusses and analyses whether congestion charges can be considered to be “fair” in different senses to the word. Two different perspectives are distinguished: the consumer perspective and the citizen perspective. The consumer perspective is the traditional one in equity analyses, and includes changes in travel costs, travel times and so on. Using data from four European cities, the analysis shows that high-income groups pay more than low-income groups, but low-income groups pay a higher share of their income. This paper argues that which distributional measure is most appropriate depends on the purpose(s) of the charging system. The citizen perspective is about individuals’ view of social issues such as equity, procedural fairness and environmental issues. This paper argues that an individual can be viewed as a “winner” from a citizen perspective if a reform (such as congestion pricing) is aligned with her views of what is socially desirable. Using the same data set, this paper analyses to what extent different income groups “win” or “lose” from a citizen perspective – i.e., to what extent congestion pricing is aligned with the societal preferences of high- and low-income groups. |
| Date: | 2016–10–13 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2016/13-en&r=tre |
| By: | Vivian Dépoues (I4CE-Institute for Climate Economics, CEARC - Cultures, Environnements, Arctique, Représentations, Climat - UVSQ - Université de Versailles Saint-Quentin-en-Yvelines - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Future development and renewal of transport infrastructures have to take into account how the effects of climate change will affect these complex sociotechnical systems. This article aims at understanding how to raise this issue to ensure an efficient and systemic uptake of climate change by infrastructure managers. It reports the results of an in-depth case study conducted on the French railway company. This study identifies several adaptation dynamics: one is top-down and stems from climate change impacts; others are more bottom-up and focused on vulnerabilities. However, both types of approaches have, so far, yielded limited results. Building on the existing literature, this paper reveals critical bottlenecks to overcome in order to get the organization ready to adapt. It suggests key components of an enabling framework for a more proactive preparation to climate change and mainstreaming climate adaptation into major organizational decisions. |
| Keywords: | adaptation,infrastructure,railways,organization,climate change,decision-making |
| Date: | 2017–07–15 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01865209&r=tre |
| By: | Adam Stocker (Transportation Sustainability Research Center); Susan Shaheen (Transportation Sustainability Research Center) |
| Abstract: | This paper provides an introduction to the current state of vehicle automation and shared mobility. The paper discusses current shared mobility business models to foster a better understanding of these systems at present and to set the stage for possible future shared automated vehicle (SAV) business models. The discussion covers current SAV pilot projects around the world and then explores potential SAV business and service models considering high or full automation (Level 4 and higher). The paper ends with a discussion of the literature regarding projected SAV impacts. Although the future of SAVs is uncertain, this briefing paper begins the dialogue around SAV business models that may develop, which are informed by current shared mobility services. |
| Date: | 2017–07–20 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2017/09-en&r=tre |
| By: | Congressional Budget Office |
| Abstract: | The federal government provides grants to state and local governments for their transportation infrastructure. State and local governments use some of those funds to replace funds that they would have provided for such investment. |
| JEL: | E22 E62 H54 H72 H76 H77 |
| Date: | 2018–08–24 |
| URL: | http://d.repec.org/n?u=RePEc:cbo:wpaper:54371&r=tre |
| By: | Lorenzo Casullo (International Transport Forum); Nathan Zhivov (International Transport Forum) |
| Abstract: | The specific characteristics of transport services and markets, including their importance in socioeconomic terms, are such that Regulatory Impact Analysis (RIA) is particularly likely to yield major benefits when applied to transport policy. However RIA in transport is not as widespread as in other sectors given the presence of some major barriers.This paper explains the aspects of a good practice RIA system for transport regulations. It describes the rationale and the benefits of RIA frameworks and provides advice on dealing with the practical realities of implementing RIA in the transport sector. It concludes with recommendations for governments seeking to implement RIA within their jurisdictions. |
| Date: | 2017–05–31 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2017/05-en&r=tre |
| By: | Marco Gonzalez-Navarro; Matthew A. Turner |
| Abstract: | We investigate the relationship between the extent of a city’s subway network, its population and its spatial configuration. For the 632 largest cities in the world we construct panel data describing population, measures of centralization calculated from lights at night data, and the extent of each of the 138 subway systems in these cities. These data indicate that large cities are more likely to have subways but that subways have an economically insignificant effect on urban population growth. Our data also indicate that subways cause cities to decentralize, although the effect is smaller than previously documented effects of highways on decentralization. For a subset of subway cities we observe panel data describing subway and bus ridership. For those cities we find that a 10% increase in subway extent causes about a 6% increase in subway ridership and has no effect on bus ridership. |
| JEL: | L91 R11 R14 R4 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:24996&r=tre |
| By: | Natasha Merat (Institute for Transport Studies); Ruth Madigan (Institute for Transport Studies); Sina Nordhoff (Delft University of Technology) |
| Abstract: | This paper provides an overview of the social-psychological factors that are likely to influence the trust and acceptance of shared SAE Level 4 Automated Vehicles (AVs). It begins with a short summary of what influences users’ engagement in ride-sharing for conventional vehicles, followed by the factors that affect user acceptance and trust of robotic systems. Using studies of human robot interaction (HRI), recommendations are made on how to improve users’ trust, acceptance and use of shared AVs. Results from real-world studies and on-line surveys provide some contradictory views regarding willingness to accept and use the systems, which may be partly due to the fact that on-line users have not had actual interactions with AVs. We recommend that the pathway to adoption and acceptance of AVs should be incremental and iterative, providing users with hands-on experience of the systems at every stage. This removes unrealistic, idealised, expectations, which can ultimately hamper acceptance. Manufacturers may also use new technologies, social-networks and crowd-sourcing techniques to receive feedback and input from consumers themselves, in order to increase adoption and acceptance of shared AVs. |
| Date: | 2017–07–20 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2017/10-en&r=tre |