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.     

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.     

A practical approach to identifying the market potential for high speed rail: A case study in the Sydney-Canberra corridor

This paper presents the methodology and selective empirical results from a study of the demand for a high speed rail system serving the Sydney-Canberra corridor currently dominated by air travel for business trips and car travel for non-business trips. We outline the steps involved in the study from problem specification, data needs, development of base year trip tables, model specification and estimation to establish switching behaviour in the presence of a new mode and calculation of induced demand for current travellers. A stated choice heteroskedastic extreme value switching model is used to evaluate the choice of fare type for business and non-business travel given the current mode used in the corridor for each sampled traveller conventional train, charter coach, scheduled coach, plane or car. Starting with the current travel profile, patronage can be predicted under alternative fare regimes, taking into account diverted traffic, induced traffic and growth. Treating fare class as endogenous enhances the real choice context facing potential patrons.     

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.     

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.     

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.     

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.