The suitability of hedonic models for cost-benefit analysis: Evidence from commuting flows

We compare two estimates of benefits arising from the construction of new bridges in south-west Norway. One estimate comes from a hedonic property value model. Rather than follow an approach which is strictly theoretically correct, we adopt Rosen’s simple first-stage approach. To investigate and validate whether this simplified approach gives a reasonable estimate, we compare it to an estimate derived from a travel demand model. We find that a variant of an ex post hedonic house price model gives very similar estimates to the estimates from the travel demand model. This supports a hypothesis that the simplistic hedonic approach is reasonable.     

水运工程造价领域中应用工程量清单计价模式的探讨

工程量清单计价方法是国际上较为通用的一种先进的造价管理方法。文章指出我国水运工程造价领域应用工程量清单计价方法是必然趋势,并对计价模式进行了探讨,论述了其特点、意义及必须要做的工作。     

工程量清单计价模式下施工单位对工程造价的控制

《建设工程工程量清单计价规范》的实施,实现了政府宏观调控、企业自主报价、市场形成价格、社会全面监督的工程造价管理体系。工程量清单计价模式对施工单位提出了新的要求。结合工作实践,阐述施工单位如何在该模式下更好地控制工程造价,提升企业的经济效益和竞争力。     

A valuation of the environmental performance of vehicles: an analysis and comparison of two methodologies

The European Clean Vehicle Directive was introduced in 2009 to create an obligation on public authorities to take into account the impact of energy consumption, carbon dioxide (CO₂) emissions and pollutant emissions into their purchasing decisions for road transport vehicles. This should stimulate the market for clean and energy-efficient vehicles and improve transport's impact on environment, climate change and energy use. Therefore the so-called ‘Operational Lifetime Cost’ of a vehicle is calculated, divided into the cost for energy consumption, CO₂ and pollutant (nitrous oxide, particulate matter, non-methane hydrocarbons) emissions. In Belgium, a different methodology has been developed to calculate the environmental impact of a vehicle, called ‘Ecoscore’, based on a well-to-wheel approach. More pollutants are included compared to the Clean Vehicle methodology, but also indirect emissions are taken into account. In this paper, both methodologies are compared and used to analyze the environmental performance of passenger cars with different fuel types and from different vehicle segments. Similar rankings between both methodologies are obtained; however, the large impact of energy use (and CO₂ emissions) in the Clean Vehicle methodology disadvantages compressed natural gas cars, as well as diesel cars equipped with particulate filters, compared to the Ecoscore methodology.     

格值时态命题逻辑LTP(X)的语义问题

在格值命题逻辑系统LP(X)中引入时态算子E(曾经)和F(将会)以及它们的对偶算子H(曾经总是)和G(将会总是)，建立了一个以时轴为语境的格值时态命题逻辑系统LTP(X)，讨论了LTP(X)与时间相关的一系列性质及时态词的重叠问题，证明了MP语义规则和HS语义规则在该系统中成立。     

城市轨道交通工程计价体系探讨

城市轨道交通工程投资大、投资回收期长、财务效益差,因此如何合理确定和有效控制轨道交通工程投资对轨道交通工程健康、可持续发展具有十分重要的意义,而确定和控制投资需要科学、完善的计价体系。然而各城市轨道交通工程计价体系在定额采用、定额水平、其它费用内容及水平等方面存在着较大的差异,对轨道交通工程投资确定和控制造成不利影响。因此建立新的城市轨道交通计价体系刻不容缓。     

基于《建设工程工程量清单计价规范》（2008年版）的承包商投标策略技巧

结合新颁布的《建设工程工程量清单计价规范》（2008年版）,就投标报价策略技巧中采用的不平衡报价法进行探讨,并针对开发商的反不平衡报价措施提出了应对措施,对工程投标有一定借鉴意义。     

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在进行公共交通换乘行为变化敏感度分析以及公交票价的制定过程中,均需将出行时间和费用联系起来考虑,出行时间价值是联系出行时间和费用的纽带．本文首先分析了基于随机效用最大化理论的Multinomial Logit（MNL）方式选择模型的基本思想,用MNL方式选择模型的简化模型对出行时间价值进行了量化．接着以北京市为例,考虑出行者的出行时间、费用以及收入等因素,估算出了北京市各种收入群所对应的出行时间价值．然后通过对选择公共交通出行者属性的分析,加权平均各种收入群对应的出行时间价值,最终估计出了北京市城市公共交通的出行时间价值．估算结果符合北京市的实际情况.     

Effect of risk preference on the valuation of time charter contracts with extension options

ABSTRACT

The literature on valuation of time charter contracts and real options in shipping generally relies on the complete markets hypothesis and the risk-neutrality of agents. However, these assumptions fail completely in some shipping market segments. This study proposes a numerical approach—based on discounting the certainty equivalent payoff at the risk-free rate—which incorporates the agent’s risk preferences through an exponential utility function. The method comprises an iterative Monte Carlo nested simulation with the real probability measure. This method is applied to a case of Suezmax tankers. The stochastic evolution of the time charter rates is modelled as a geometric mean-reverting process. The case study supports the applicability of the proposed method and evidences that the effect of risk preference may be significant, mainly for more risk-averse agents. Although the method involves intensive computation, it has the benefits of theoretical ease and flexibility, which could encourage utilisation by practitioners.     

Some economic aspects of conflicts over land use in the coastal zone

Abstract

Recent land use legislation pays particular attention to the coastal zone where age‐old conflicts have recently accelerated. Flexibility is required in policy because visible conflicts are tied into complex physical and social systems which may require changing patterns of land use over time. Public policy is altering property rights and a thorough understanding of the economic and social roles played by those rights is required. Economic models can be used to understand some major changes such as types of alteration of the environment, but may be ignored or misused unless a better understanding of coastal decision processes is developed.