Public preference for the attributes of the marina port in Korea: a choice experiment study

As of late, the Korean government needs quantitative information on economic feasibility analysis for marina port development projects. This study applies a choice experiment to measure public preference for the attributes of marina port in Korea. We consider the trade-offs between price and four attributes of marina port (capacity, access, waterfront, and program) for selecting a preferred alternative and elicit the marginal willingness to pay (MWTP) estimates for each attribute. We also test whether irrelevant alternatives property for the estimation model holds and compare the estimation results of the multinomial logit (MNL) and the nested logit (NL) models. The results show that the NL model outperforms the MNL model. In the NL model, MWTPs for increasing the level of a waterfront from promenade to both promenade and rest area and for the provision of marine leisure experience program are KRW13 384 (USD11.8) and KRW17 937 (USD15.8), respectively. This study is expected to provide policymakers with quantitative information for evaluating marina port construction projects in Korea.     

Multi-criteria analysis of decision-making by international commercial banks for providing shipping loans

This research investigates the underwriting attitude of international commercial banks in lending shipping loans. By adopting the analytic hierarchical process methodology, the underwriting attitude is captured to understand how bankers would deal with shipping loans in response to the current lengthy recession. We find that bankers focus on the criteria of corporate recourse (CR) in their decision-makings. Of the CR factors, the financial strength of shipowner is the most important factor, followed by the shipowner’s business history and the bank–firm relationship. With the current underwriting attitude, the shipping sector may have limited access to shipping loans of international commercial banks due to low corporate ratings caused by the long recession and the nature of industry itself: volatility, fragmentation, capital intensity, high leverage, etc.     

Book review

AUTOMATED‐TRANSIT GUIDEWAYS: ANALYSIS AND DESIGN, by Clarence W. de Silva and David N. Wormley. 276 pp. (£33.00)     

Coastal energy impact mitigation in the Gulf: The past reviewed and alternatives for the future

Abstract

With the future of the Coastal Energy Impact Program (CEIP) in question and with oil and gas leasing and drilling activities in the Gulf of Mexico expected to increase, the question arises as to how energy impacts are to be mitigated. It is concluded that CEIP has helped to mitigate coastal energy impacts. If it is left unfunded, an alternative would be to provide Outer Continental Shelf (OCS) royalties to states to be used for impact prevention and mitigation.     

On-board aging estimation using half-cell voltage curves for LiFePO<Subscript>4</Subscript> cathode-based lithium-ion batteries for EV applications

The aim of this work is the design of an algorithm for on-board determination of the actual capacity of a lithium iron phosphate (LFP) cathode-based lithium-ion battery for electric vehicle applications. The presented approach is based on the detection of the predominant aging mechanisms (in terms of loss of lithium and loss of active material in both electrodes) by determining the single electrode voltage curves. The information related to the characteristic length and position of the voltage plateaus, which can be gathered during battery operation, can be used to obtain the actual aging state of the cells. The length of the plateaus depends on the respective position that the voltage curves of the single electrodes have in relation to each other. Relating the change of the plateau characteristics to the possible aging mechanisms allows the determination of the actual battery aging state in terms of total cell capacity. The work presents a possible implementation of an algorithm for capacity determination based on the described methodology. The algorithm is validated with various differently aged LFP cells. Furthermore, the work discusses the ability of the method to detect the actual battery capacity if the characteristics of only part of the quasi-OCV (open circuit voltage) curve are detected. Achieved accuracy and existing limitations are described and discussed in detail.     

Comparison analysis for subjective and objective weights of financial positions of container shipping companies

This paper explores the positions of financial ratios identified utilizing both subjective and objective weighting methods—the consistent fuzzy preference relation (CFPR) and entropy—based on questionnaires collected from experts and the financial statements of major shipping companies in Taiwan and Korea. The comparison of perceptions of financial ratios by country and by expert group illuminates some financial aspects that experts may have ignored or not paid close attention to during the business operating process, especially in today’s turbulent world shipping market. The major results of this paper show that experts in the two countries have different perceptions of the debt-to-equity ratio and that by combining the results of objective and subjective weights, categorization of financial ratios by quadrant can help decision-makers find business options and strategies to improve the financial performance of their companies. This research approach may be applied to other business entities, improving on the direct rating method used in previous studies.     

Development of a Driving Behavior-Based Collision Warning System Using a Neural Network

An advanced driver assistance system (ADAS) uses radar, visual information, and laser sensors to calculate variables representing driving conditions, such as time-to-collision (TTC) and time headway (THW), and to determine collision risk using empirically set thresholds. However, the empirically set threshold can generate differences in performance that are detected by the driver. It is appropriate to quickly relay collision risk to drivers whose response speed to dangerous situations is relatively slow and who drive defensively. However, for drivers whose response speed is relatively fast and who drive actively, it may be better not to provide a warning if they are aware of the collision risk in advance, because giving collision warnings too frequently can lower the reliability of the warnings and cause dissatisfaction in the driver, or promote disregard. To solve this problem, this study proposes a collision warning system (CWS) based on an individual driver’s driving behavior. In particular, a driver behavior model was created using an artificial neural network learning algorithm so that the collision risk could be determined according to the driving characteristics of the driver. Finally, the driver behavior model was learned using actual vehicle driving data and the applicability of the proposed CWS was verified through simulation.     

Tire Lateral Force Estimation Using Kalman Filter

As for the tire analysis, lateral tire force is a fundamental factor that describes the stability of vehicle handling. Attempts to analyze the vehicle stability have been made based on various objective test methods and some specific factors such as yaw, lateral acceleration and roll angle. However, the problem to identify which axle is lack of the tire grip at a certain situation still remains. Since indoor tire force measurement system cannot represent a real road and vehicle conditions, tire force measurement through a real vehicle test is inevitable. Due to the high price of the tire force measurement device, tire force estimator can be an alternative toward cost reduction and device failure. In this paper, nonlinear planar full car model combined with tire model is proposed. Then, using discrete-time extended Kalman-Bucy filter (EKBF), individual tire lateral force are estimated with modified relaxation length model.