A stated preference examination of time of travel choice for a recreational trip: An addendum

A paper was published in the immediately previous issue of this journal describing a stated preference experiment examining how people are influenced in the selection of a departure time for a hypothetical trip to see a movie. The title was ‘A stated preference examination of time of travel choice for a recreational trip’, Volume 30(3):17–44. Numbers were used to indicate references in the text of the paper and in Table 1 accompanying the text, but these numbers were omitted from the list of references at the end of the paper - making it very difficult to identify specific citations. The list of references from the paper is reprinted below with the reference numbers included. This provides a listing that can be used in conjunction with the text of the paper and Table 1 as published to identify specific citations as intended.     

The potential for real-time passenger information as part of an integrated bus-control/information system

This paper is concerned with the effect of linking innovative bus-control systems with real-time passenger information, with the overall aim of improving conditions for bus operation and passengers in central urban corridors. The first section presents a concise review of bus passenger information systems (particularly their application at bus stops). Then the concept of real-time passenger information is explored. The case for and against real-time information is argued and two British case-studies follow. In the second section it is argued that the provision of real-time information, as part of an integrated bus-control/information system, offers new possibilities for meeting the identified needs of public transport users. Finally, in the third section, some comments are made on the evaluation of different combinations of bus-control and passenger information tested using a simulation method and a series of subjective response surveys. General relationships governing the degree of bus-control required and the extent of information needed are of special interest.     

Maritime liner shipping and the stevedoring industry: market structure and competition strategies

Globalization, liberalization, competition and spatial interaction are significant factors affecting the transformation of manufacturing industries worldwide. In the transportation and logistics industry, however, cooperation is becoming even more critical than competition in determining firms' efficiency. Cooperation has always characterized the liner sector in which strategic alliances, mergers and acquisitions have generated twin effects: notable increases in ship size and falls in freight rates. Meanwhile, the stevedoring industry is undergoing privatization-driven consolidation and the emergence of global pure terminal operators. This article focuses on vertical integration between global carriers and terminal operators. We address the following key current issues:

• dedicated terminals as a strategy for cutting costs and controlling integrated transport chains;
• the struggle for supply chain control, involving global carriers versus global terminal operators, driven by financial power and technical and managerial capability.

We close analysing one of the core problems of the market, namely the evolving role of the dedicated terminals. For the pure stevedores they represent an opportunity to secure a cargo, while in the hands of the liners they enable cost stability and the possibility to put pressure on pure terminal operators.     

A study of passenger discomfort measures at the Hong Kong mass transit railway system

This note investigates the important attributes relating to the crowding effects at the Mass Transit Railway (MTR) stations in Hong Kong. Data was collected at two sets of three MTR stations to study the responses of the passengers due to the discomfort at crowded vehicles and platforms. Stated preference surveys were used to study the effects of passenger discomfort measures.     

The market for second-hand ships: Further results on efficiency using cointegration analysis

This paper examines the dynamic behaviour of second-hand prices of tankers and dry-cargo vessels over various time periods, with a view to determining whether or not the markets for such assets are efficient. It extends and re-analyses the results of an earlier study by Hale and Vanags, published in this journal in 1992. Using a more modern method of testing for cointegration, it is shown that both the tanker and dry cargo markets appear to be cointegrated, a fact which would suggest that these markets are inefficient. It is suggested that the existence of cointegration does not necessarily imply market inefficiency, if the factors that create the common trends are themselves stochastic in nature. With this in mind, it is argued that the evidence put forward in this paper is still consistent with market efficiency in the long run.     

Investment strategies in market uncertainty

The nature of the global economy is one of dynamic change. Shipping is a service industry with its demand related to changes in international trade levels and patterns. As a consequence shipping is subject to sometimes unpredictable swings in demand so that the operator is required to make strategic planning decisions while navigating through boom or bust environments. While boom economies generate rising freight rates which are welcomed and encourage investment, ship operators may also have to face falling freight demand and declining freight rates that may have significant impact on profitability, often falling to uneconomic levels for extended periods. In such a period of uncertainty and declining profitability management will make operational decisions to reduce costs. However, shipping lines operate in a market environment so any decisions made to rationalize the trade may have significant long-term competitive implications. For example, traditional micro economic theory might suggest that the prudent strategy to adopt would be to close down the operation and reopen when the market conditions improve. In a world of certainty or when costs of taking this action are zero, this would be a valid strategy. However, because of fear of competitors taking up a line's market share if the shipping company exits, even temporarily, this strategy cannot be valued simply in terms of shut-down and start-up costs. A further consideration is the fact that standard capital budgeting techniques, such as Net Present Value (NPV), cannot incorporate the flexibility to respond to new information and strategic responses explicitly into their investment analysis. This paper will demonstrate the use of Real Option Analysis (ROA) to provide guidelines for decisions about closing operations in adverse market conditions.     

The design of bus route systems — An interactive location-allocation approach

An interactive modelling approach is developed to solve the practical problem of bus route network design. Possible bus routes are identified with facilities which can be located. Zones or pairs of zones in the urban area are identified with customers who will be allocated to the established facilities. It is shown that the classical Set Covering Problem is useful under the assumption of fixed demand; the Simple Plant Location Problem is effective under the assumption of demand which is sensitive to the level of bus service provided.     

Making do: The effects of a mass transit strike on travel behavior

A brief transit strike in early December 1976 disrupted bus services to the city of Pittsburgh and surrounding Allegheny County. That strike provided an opportunity for testing a variety of approaches to increase ride-sharing and to reduce traffic congestion, and for examining the effect of the strike on traffic congestion and on individual travel behavior. Even though over 60% of the commuters to the CBD use transit, the effects of the strike were relatively mild. There was some increase in traffic flow into the CBD and some spreading of the peak period. The largest proportion of the transit commuters who made trips to the CBD during the strike were dropped off by a non-commuter, increasing highway traffic. The most severe impact was felt by those transit commuters who had no cars in the household; 25% of these commuters (only 3% of the total CBD commuters) stayed home from work on the first day of the strike. Most attempts to mitigate the impact of the strike had little effect, largely because most commuters were able to manage adequately during the short strike. The anticipated parking problem, on which much of the contingency planning was focused, did not emerge, largely because of the use of carpooling and drop-off mode by many of the transit users.     

Regulatory reform and freight mode choice

Reform of trucking Vehicle Weights and Dimensions (VWD) regulations in Canada is now underway. The effect these reforms will have on the freight transportation industry are only recently the subject of research. This paper is part of this new research effort, aimed at understanding how regulatory reform in the trucking sector will affect the existing competitive relationship between trucks and the railways. The paper presents the results of study and research into modelling the relationship between mode choice and the service characteristics that are affected by VWD reform.Using several periods of data, a series of econometric models are developed which help to elucidate the relative relationships between the mode service characteristics for both of the principal interprovincial freight modes. A technique is developed and presented to model railway user costs in order to overcome the complex and often unrepresentable pricing activities of Canadian railways.The strength of the developed econometric models is presented, including their significance and statistical reliability. This is further reinforced by the similarities exhibited by all the models in the series. The selected model is applied to predict market service responses required of the railway industry in order to compete with the trucking sector now adapting to the new regulations.The impact of the newly implemented vehicle weight and dimension reform on the rail transportation industry is analyzed and railway industry improvements aimed at maintaining its market share are presented. The results predicted by the model show that railway user cost reductions should be moderate, and likely less than the level of inflation over the period of time when trucking converts its fleet to take advantage of the new regulations.Abbreviations AASHTO American Association of State Highway and Transportation Officials - CCMTA Canadian Conference of Motor Transport Administrators - EPI End products, inedible commodity classification - GVW Gross Vehicle Weight - NA 1988 VWD National Agreement - RTAC Roads and Transportation Association of Canada - VWD Vehicle Weight(s) and Dimension(s) - WA 1988 VWD Western Agreement