Air transport and economic growth: a review of the impact mechanism and causal relationships

ABSTRACT

The impacts of air transport on the economy arise both directly, via activity in the aviation sector; and indirectly, via increased spending and wider economic benefits associated with improved access to resources, markets, technology and economic mass. Economic activity, in turn, supports and generates demand for air transport. Despite its potential importance, the reciprocal nature of the causal relationship between air transport and economic performance has remained somewhat understudied. This paper provides a synthesis review of the channels the aviation sector interacts with regional economy. The review focuses on quantitative studies that contribute to the state-of-the-art understandings of the causality. We find that the reciprocal causal relationship is more likely to prevail in less developed economies. For more developed economies, only one direction of the causality is recognised, which runs from air transport to economic growth. Especially substantial is the effect of airline enplanement on service-related employment. The reverse direction of the relationship is, however, not as significant as believed in a causal sense within the developed world. Therefore, cautions need to be taken when applying income elasticities (such as the elasticity of air passenger demand with respect to GDP) in air travel demand forecasting, which implicitly assumes that economic growth causally leads to air traffic increment. Based on the fundamental links between air transport and economic growth, some typical imperfections and inefficiencies in aviation markets are discussed and promising avenues for future research are proposed.     

线性需求下铁路客运差别定价模型研究

为提高席位资源利用率,研究了线性需求下我国铁路客运差别定价策略的优化模型。以收益最大化为目标,基于最优化理论和完全价格歧视策略,确定旅客群体最优细分数目以及每个旅客群体的最优票价,得出在客运淡季,铁路旅客最优细分数目为3~5个,各旅客群的最优票价由铁路客运市场细分数目决定。应用该模型为某城际高铁进行差别定价,试验结果表明,该模型可达到调节客流、增加收益的目的。     

A statistical analysis of consumer perceptions towards automated vehicles and their intended adoption

ABSTRACT

While automated vehicle (AV) development continues to progress rapidly, how the public will accept and adopt automated vehicles remains an open question. Using extensive survey data, we apply cluster analysis to better understand consumer perceptions toward potential benefits and concerns related to AVs with regard to factors influencing their AV adoption likelihood. Four market segments are identified – ‘benefits-dominated,’ ‘concerns-dominated,’ ‘uncertain,’ and ‘well-informed.’ A random parameters multinomial logit model is then estimated to identify factors influencing the probability of respondents belonging to one of these four market segments. Among other influences (such as socio-economic and current travel characteristics), it is found that ‘Millennials’ have a higher probability of belonging to the well-informed market segment, ‘Gen-Xers’ with a lower probability to the uncertain market segment, and ‘Baby Boomers’ with a higher probability to the concerns-dominated market (relative to the ‘Great Generation’). We also study the individuals’ expressed likelihood of AV adoption using separate random parameters ordered probit estimations for each of the four market segments. The substantial and statistically significant differences across each AV consumer market segment underscore the potentially large impact that different consumer demographics may have on AV adoption and the need for targeted marketing to achieve better market-penetration outcomes.     

后疫情时代国内纯电动乘用车市场发展现状

2020年国内纯电动乘用车市场在新冠肺炎、补贴退坡、各地促销政策陆续出台等多方面因素影响下先抑后扬、市场回暖,呈现出厂商竞争加剧、销售区域转变、私户占比增加、车型趋向高端化等特征。在我国碳达峰、碳中和的宏伟目标下,随着消费者环保认知的不断提升,纯电动乘用车市场将稳步发展并进一步向智能化、自动化方向转变。     

Competition model of cruise home ports based on the cruise supply chain – based on China cruise market

This paper addresses issues of cruise home port competition based on the cruise supply chain. A pricing model of the cruise market is developed considering the competitive cooperation behaviors of the participants in the cruise supply chain. Furthermore, a model of cruise home port competition is developed to investigate the impacts of subsidy participants in the cruise supply chain on cruise home ports. The results indicate that subsidy policies change the market equilibrium, promote the upstream and downstream integration of cruise supply chain, and enhance cruise home port competitiveness. Subsidies to cruise line increase the payoffs of cruise supply chain and ports’ profit. Subsidies to travel agency decrease passenger costs and improve all ports’ profits. For the long-term development of cruise home port, the consequents can be used as policy suggestions.     

IPO择时行为对资本结构的影响分析

基于资本结构的市场时机选择理论,本文以2006-2010年沪深两市IPO公司为研究对象,建立实证分析模型,研究IPO市场时机选择行为对资本结构的影响。实证结果表明沪市不存在明显的IPO择时行为,而深市较为明显,且此行为对资本结构构有长期影响,但其影响力有限,不及传统因素。     

The value of options for time charterparty extension: an artificial neural networks (ANN) approach

The most frequently associated options in the physical shipping market are options to extend the charter period on time charters and additional shipment options on contracts of affreightment. The value of freight options, in practice, is estimated mostly by referring to forward curves. An option on freight has different properties from its financial counterparts, and the straightforward adoption of theoretical models does not produce promising results. In this paper, extension options, which have the property of options on futures, were transformed into regular European options before the application of the Black-Scholes model (BSM). The efficient market hypothesis, which justifies the parity of the performance of a long-term charter to that of repetitive short-term charters, worked as the basis for the transformation. The option values determined by the BSM were compared with actual realized values. Additionally, the artificial neural networks (ANN) was employed to derive the option values. This study is meaningful as the first-time application of both the closed-form solution and the ANN to the valuation of physical freight options. The research results can contribute to the quality of chartering decisions. The results could also be used in quantifying credit risk, as extension options tend to be granted to charterers with more creditability.     

考虑动态定价的煤炭调运方案优化研究

煤炭坑口价格的变化与市场供求有重要联系.本文在煤炭坑口价格动态定价的基础上,以煤炭产地和消费地间的煤炭调运量为决策变量,以煤炭流通过程中的总费用最小化为目标,分别构建了煤炭调运系统优化模型和考虑消费者竞争的煤炭调运优化模型,设计了遗传算法和Floyd算法相结合的求解算法.以我国内地煤炭调运问题为案例,分析了价格变化特性、可调出量与消费量比例等因素对煤炭调运方案的影响.结果表明,考虑消费者竞争时煤炭流通广义费用更低;随着煤炭可调出量与消费量比的增加,动态价格较固定价格的煤炭流通广义费用下降更快.     

跨区域整合公交系统建模与分析

随着区域经济一体化的发展,区域间公交系统的合作与整合得到了越来越广泛的关注.本文提出了一个双层规划模型来描述我国的一类跨区域整合公交系统.在上层问题中,相邻区域的地方公交管理者们共同规划和管理跨区域公交线路,以实现跨区域线路上社会福利的最大化.在下层问题中,这些区域的公交运营者们相互开放区域市场并联合运营跨区域公交线路,他们相互竞争以实现各自利润的最大化.为了获得更加准确的分析结果,所提出的模型详细地考虑了乘客的站点拥挤成本和车内拥挤成本.数值结果表明,公交管理者们可以通过补贴影响运营者的竞争行为,进而改善跨区公交系统各方参与者的利益.     

也论柴油轿车在国内市场的发展前景

研究了世界范围内柴油机在乘用车领域内的应用现状,阐述了柴油机作为车用动力的优势。根据国内的政策环境与市场环境,分析了排放法规、柴油品质对市场的影响。根据对柴油轿车的性能要求,包括振动和噪声、排放等,分析了更适合我国轿车柴油机发展的技术路线,并重点对若干关键技术和难点进行了剖析。柴油机技术进步和市场化应用表明,柴油轿车在我国具有广阔的应用前景,政府和企业应做好政策和技术上的准备。