To kill a real option – Incomplete contracts,real options and PPP

This paper is concerned with the implications of public–private partnership agreements for the execution of expansion options in road infrastructure. More specifically, it analyzes the expansion of an existing two-lane road in Sweden, and examines the real options created by an intermediate type of road with three lanes. Interpreting the results from real option analysis in the light of incomplete contract theory, this paper finds that external congestion costs might necessitate public ownership to ensure a social optimal outcome in public–private partnerships.     

Innovative strategies for urban car-sharing systems and a simulator to assess their performance

In this paper, three innovative car-sharing systems for urban areas are proposed, based on fleets of individual intelligent vehicles with three service characteristics: instant access, open-ended reservations and one-way trips. These features provide high flexibility but create an uneven distribution of vehicles among stations. Therefore, relocation of vehicles must be performed. Three different system procedures are proposed: in the first system, relocations are performed by users; in the other two, vehicles relocate automatically, thanks to their automation. In the first two systems, vehicles are accessible only at stations, whereas in the third they are also accessible along roads. In order to provide transport managers with a tool to test systems in different realities, an object-oriented simulator is developed. The simulation provides outputs of system performance, in terms of user waiting times and system efficiency. The proposed systems are simulated for the city of Genoa, in Italy, and a comparative analysis is presented.     

Biogeography-based combinatorial strategy for efficient autonomous underwater vehicle motion planning and task-time management

Autonomous Underwater Vehicles (AUVs) are capable of spending long periods of time for carrying out various underwater missions and marine tasks. In this paper, a novel conflict-free motion planning framework is introduced to enhance underwater vehicle’s mission performance by completing maximum number of highest priority tasks in a limited time through a large scale waypoint cluttered operating field, and ensuring safe deployment during the mission. The proposed combinatorial route-path planner model takes the advantages of the Biogeography-Based Optimization (BBO) algorithm toward satisfying objectives of both higher-lower level motion planners and guarantees maximization of the mission productivity for a single vehicle operation. The performance of the model is investigated under different scenarios including the particular cost constraints in time-varying operating fields. To show the reliability of the proposed model, performance of each motion planner assessed separately and then statistical analysis is undertaken to evaluate the total performance of the entire model. The simulation results indicate the stability of the contributed model and its feasible application for real experiments.     

Are we ready to embrace connected and self-driving vehicles? A case study of Texans

While connected, highly automated, and autonomous vehicles (CAVs) will eventually hit the roads, their success and market penetration rates depend largely on public opinions regarding benefits, concerns, and adoption of these technologies. Additionally, the introduction of these technologies is accompanied by uncertainties in their effects on the carsharing market and land use patterns, and raises the need for tolling policies to appease the travel demand induced due to the increased convenience. To these ends, this study surveyed 1088 respondents across Texas to understand their opinions about smart vehicle technologies and related decisions. The key summary statistics indicate that Texans are willing to pay (WTP) $2910, $4607, $7589, and $127 for Level 2, Level 3, and Level 4 automation and connectivity, respectively, on average. Moreover, affordability and equipment failure are Texans’ top two concerns regarding AVs. This study also estimates interval regression and ordered probit models to understand the multivariate correlation between explanatory variables, such as demographics, built-environment attributes, travel patterns, and crash histories, and response variables, including willingness to pay for CAV technologies, adoption rates of shared AVs at different pricing points, home location shift decisions, adoption timing of automation technologies, and opinions about various tolling policies. The practically significant relationships indicate that more experienced licensed drivers and older people associate lower WTP values with all new vehicle technologies. Such parameter estimates help not only in forecasting long-term adoption of CAV technologies, but also help transportation planners in understanding the characteristics of regions with high or low future-year CAV adoption levels, and subsequently, develop smart strategies in respective regions.     

Establishment of Community Managed Fisheries’ Closures in Kenya: Early Evolution of the Tengefu Movement

Community-based management (CBM) could be an essential tool to prevent the depletion of marine resources in the Western Indian Ocean region. In Kenya, political pressure to strengthen local governance, has led to adoption of CBM as a way of reducing over-exploitation and managing the competing uses and impacts on the marine environment. Several communities in Kenya have embraced CBM and have set aside or closed previously fished areas to enhance recovery of fisheries and biodiversity. These community fisheries closures (locally called tengefu), despite being degraded, may recover to finfish abundances and biodiversity levels similar to established MPAs or above thresholds for maintaining some ecological services. Communities see their direct involvement and control of these tengefu as more likely to result in benefits flowing directly to them. Community closures are also important for articulating and resolving community values and strengthening their management capacity. Here, we describe the evolution of the tengefu movement in Kenya and combine information from focus group discussions, interviews, underwater surveys and boundary marking to evaluate the current status, opportunities and challenges facing these tengefu. We show that in some cases community closures suffer from slow and incomplete national and local legislative processes, challenges to compliance, and weak management.     

Novel Electrically Stimulated Catalytic Converter Prototype for Replacement of Conventional Auto Exhaust Emission Converters

High voltage electrostatics and corona discharge are utilized for various applications in pollution and environmental control. The traditional applications have many flaws due to improper construction of electrode design and assembly that cause system failure, in particular when electrically stimulated devices are exposed to high humidity. A new innovative-patented design by Hamade, electrically stimulated catalytic converter(ESCC),eliminates such flaws and shows the wide practical applications of the new design. The new design utilized previous patented designs and work of the same inventor but retrofitted for catalytic auto exhaust emission control. The current and previous patents include: employing electrically stimulated filtration(ESF) to replace high efficiency particulate air(HEPA) filters, treatment of biological and infectious diseases, electret fabrication, and, most notably, the invention of a new electrically stimulated catalytic converter(ESCC). The electrically stimulated catalytic converter invention includes an exhaust conduit fed from the engine exhaust port with a housed corona charger apparatus. The opposite end is opened to the atmosphere outside of the vehicle or connected to a reduced-size catalytic converter. The corona charger is intrusively or non-intrusively associated with a main flow path defined by the exhaust conduit. The corona charger includes at least one electrode, which may be recessed away from, the main flow path. A plurality of corona chargers may be used in various combinations, optimally a two dimensional grid. The electrically stimulated catalytic converter is adapted to treat and eliminate auto exhaust pollution emission to air.     

Enabling a viable technique for the optimization of LNG carrier cargo operations

In this study, we optimize the loading and discharging operations of the Liquefied Natural Gas (LNG) carrier. First, we identify the required precautions for LNG carrier cargo operations. Next, we prioritize these precautions using the analytic hierarchy process (AHP) and experts’ judgments, in order to optimize the operational loading and discharging exercises of the LNG carrier, prevent system failure and human error, and reduce the risk of marine accidents. Thus, the objective of our study is to increase the level of safety during cargo operations.     

Visualisation of uncertainty in probabilistic traffic models for policy and operations

This study investigates different methods to visualise uncertainty in static representations of probabilistic traffic models predictions on road-networks. Although various graphical cues may be used to represent uncertainty it is not a priori clear which of them are most suited for this purpose, since their legibility, intelligibility and the degree to which they interfere with other graphical elements in a representation differ widely. Several graphical uncertainty representations were therefore developed and analysed in expert sessions. A selection of the initial set of uncertainty visualisations was further evaluated in a cognitive alternative task-switching experiment. The results show that graphical representations are able to convey uncertainty information relatively accurately, while some uncertainty visualisations outperform others. It depends on the model and scenario which representation is most suited for a given application. This paper presents an overview of possible graphic uncertainty representations and the considerations involved when applying them to uncertainty in traffic model visualisations.     

Understanding the impacts of a combination of service improvement strategies on bus running time and passenger’s perception

Transit agencies implement many strategies in order to provide an attractive transportation service. This article aims to evaluate the impacts of implementing a combination of strategies, designed to improve the bus transit service, on running time and passenger satisfaction. These strategies include using smart card fare collection, introducing limited-stop bus service, implementing reserved bus lanes, using articulated buses, and implementing transit signal priority (TSP). This study uses stop-level data collected from the Société de transport de Montréal (STM)’s automatic vehicle location (AVL) and automatic passenger count (APC) systems, in Montréal, Canada. The combination of these strategies has lead to a 10.5% decline in running time along the limited stop service compared to the regular service. The regular route running time has increased by 1% on average compared to the initial time period. The study also shows that riders are generally satisfied with the service improvements. They tend to overestimate the savings associated with the implementation of this combination of strategies by 3.5-6.0 min and by 2.5-4.1 min for both the regular route and the limited stop service, respectively. This study helps transit planners and policy makers to better understand the effects of implementing a combination of strategies to improve running time and passenger’s perception of these changes in service.     

Step-tolling with price-sensitive demand: Why more steps in the toll make the consumer better off

Most dynamic models of congestion pricing use fully time-variant tolls. However, in practice, tolls are uniform over the day, or at most have just a few steps. Such uniform and step tolls have received surprisingly little attention from the literature. Moreover, most models that do study them assume that demand is insensitive to the price. This seems an empirically questionable assumption that, as this paper finds, strongly affects the implications of step tolling for the consumer. In the bottleneck model, first-best tolling has no effect on the generalised price, and thus consumer surplus remains the same as without tolling. Conversely, under price-sensitive demand, step tolling increases the price, making the consumer worse off. The more steps the toll has, the closer it approximates the first-best toll, thereby increasing the welfare gain and making consumers better off. This indicates the importance for real-world tolls to have as many steps as possible: this not only raises welfare, but may also increase the political acceptability of the scheme by making consumers better off.