Running for the 7:45: The effects of public transit improvements on commuter stress

This research project took advantage of the implementation of a major mass transit improvement by New Jersey Transit which provided a "one-seat ride" into New York City for many commuters who previously had to transfer in Hoboken in order to take Port Authority Trans Hudson (PATH) trains into New York City. The creation of this new service provided a natural experiment in which some riders switched to the new route, while others continued to use their previous route. We studied psychological and psychophysiological responses to these commuting options, using a quasi-experimental, pre-post change, field research design.We found that riders on this new line had lower levels of stress, as multiply measured, than they had earlier, before the advent of this new train, or than did other riders currently using the Hoboken-PATH option. The stress effects seemed to be mediated by the time of the trip – that is, the reduced trip time of the new, direct service seemed to be a primary factor in the reduced stress to riders. Predictability of the trip was also inversely correlated with stress, but did not distinguish between the commuter groups. These results were largely replicated with a student group who rode the same lines acting as simulated commuters.     

Replacement, obsolescence and modifications of ships

A theory of replacement in the context of ocean going vessels is discussed. The approach is based upon costs rather than profits, and while there appear to be many difficulties in applying replacement theory to ships it is shown that there are some segments where the theory can still usefully be applied. The effect on replacement resulting from varying important cost parameters is shown and it is found that while fiscal measures have very little effect, capital cost and operating cost profiles have the most important influence. It is concluded that shipowners need to keep themselves fully informed of changes in cost and improvements in technology that may indicate replacement of a vessel somewhat sooner than normal replacement age.     

Liner freight rates, discrimination and cross-subsidization

This paper reviews some of the current literature concerning liner freight rates. While upholding the traditional basis for the establishment of freight rate structures it disputes some of the arguments that discrimination or differential pricing policies lead to cross-subsidization of low rated by higher rated cargoes.     

The Elasticity of Supply of Transport

The tramp shipping markets are generally considered to operate under conditions approaching the textbook model of perfect competition. It is from this basis that an attempt is made to establish the marginal cost of a bulk carrier and thence the aggregate supply curve and elasticity of supply in respect of vessels operating in a given sub-market. As is generally known, when many vessels are laid up the supply tends to be very elastic and when vessels' output is severely strained, the supply is almost totally inelastic. What is perhaps not always appreciated is that between the two extreams the supply is elastic and virtually constant with a value in the region of 0.5.