Shape Optimization of Elliptical Road Containers Due to Liquid Load in Steady-State Turning

A numerical analysis of liquid load in elliptical road containers undergoing a steady-state turning manoeuvre is presented for containers of unrestricted size and for containers of fixed capacity. The liquid load is expressed in terms of the horizontal and vertical forces and the overturning moment created by these forces around the middle bottom point of the container. The moment is obtained by integrating the liquid free-surface equation and using numerical calculation of the resulting expressions. An optimization study with an objective to minimize the peak overturning moment is performed on containers of fixed capacity to identify the optimal height/width ratio of the container. The results of this investigation being of a general nature, i.e. with no restriction for an application, are particularly intended for road tankers under a steady turning manoeuvre, where they can be applied with high degree of accuracy.     

Risk and return of U.S. water transportation stocks over time and over bull and bear market conditions

The aim of this paper is to investigate the behaviour of water transportation company stock returns in the U.S. stock exchanges from 1985 to 1994 in order to determine whether the systematic risk of this industry is different from that of the 'average' company in the market, whether it has changed over the ten year period, over bull and bear market conditions, and whether there is a firm 'size' effect in the industry. In the context of the Capital Asset Pricing Model (Capm), we find that the systematic risk of the shipping industry return is not different from that of the 'average' company. It is also found that the covariance of water transportation companies with respect to the overall stock market return did not change over the ten year period although it appears that it has changed over normal upward/downward market movements. There is also reasonable evidence that the intercept of the equation might have changed over normal upward/downward market movements. Finally, we document contradictory evidence regarding the size effect; during the period 1985-1989 we find small companies to have significantly higher returns and risk while during the period 1990-1994 medium size companies tend to have higher risk than small and large firms, which is not however compensated by higher returns.     

Valuation of externalities through neo-classical methods by including institutional variables

Externalities are uncompensated influences that are not expressed in a market but that affect the production possibilities or the welfare level of third parties. An example is the noise pollution in airport areas. Although air transport is an important source of economic growth and employment in many countries, the social and environmental problems connected with this sector are rising rapidly. Consequently, airports are becoming a matter of concern to many politicians. On what kind of values should they base their decisions as to further growth or consolidation of the current situation? In this paper we discuss two approaches, one based on mainstream, neo-classical, economics, and one based on institutional approaches, more in particular new institutional economics, which can be seen as a development complementary to the mainstream.     

Regional impacts of new transport infrastructure: a multisectoral potentials approach

This is the second of two background papers sponsored for the Symposium by the Administrative Commission for the north of the Netherlands. Its purpose is to provide an indication of the effects of the proposed high speed rail line between Amsterdam, Groningen and Hamburg on employment in the corridor. The authors first review the techniques of forecasting these effects discussed in the literature. The potentials approach is adopted for their analysis, the mathematics and underlying assumptions of which are presented. Finally, this model is run to provide an estimate of the impact on regional employment of three variants of the proposed rail line.     

Total cost analysis: An alternative to benefit-cost analysis in evaluating transportation alternatives

This paper explains the theory in support of total cost analysis (TCA) to compare transportation system alternatives. The full costs of each alternative are first aggregated, including travel time costs and monetizable environmental and social costs. Many costs which are considered on the benefits side of the equation in benefit-cost analysis (BCA) as "cost savings" are brought over to the costs side. Total cost differences among alternatives are then traded off against their estimated non-monetized benefits or impacts, just as a consumer trades off product quality against cost before deciding which product he or she will buy. One advantage of TCA over traditional BCA is that the concept of "total cost" is more easily understood by the public and by political decision-makers than BCA concepts such as "net present worth", "benefit-cost ratio" and "internal rate of return". A second advantage is that there is no suggestion that all "benefits" have been considered; decision-makers are free to use their own value judgements to trade off total cost against non-monetizable social, environmental and economic impacts, just as they trade off quality and convenience against cost when purchasing goods and services in their roles as consumers. The TCA approach is demonstrated in this paper through a case study of two systemwide alternatives for the Baltimore, MD urban area.