Social marginal cost pricing and second best alternatives in partnerships for transport infrastructures

According to the economic theory, if all the first-best conditions are met, social optimality involves the prices to be set equal to social marginal costs. When it is not possible to set prices equal to social marginal costs, due to the presence of constraints within the transport sector or distortions elsewhere in the economy, the theory suggests corrections to the SMC principle (second-best alternatives). But the implementation of second best alternatives can give rise to serious problems when transferred from theory to practice. This chapter will discuss in particular the problems that might rise when investment cost are included (totally or partially) in the social marginal costs rules, and in particular when private operators are involved.     

The cost of second best pricing and the value of risk premium

Private provision of public infrastructure (PPP) is meant to give incentives to increased efficiency in construction as well in operation and maintenance of the infrastructure e.g. within the transport sector. Efficiency is not only (private) economic efficiency, but also social efficiency e.g. social marginal cost pricing of use of the infrastructure.Is it possible to design contracts concerning payment mechanisms and financial instruments for transport infrastructure that will stimulate social efficiency and optimal allocation of risks between parties? The paper discusses whether different targets can be met and whether compromises may lead to acceptable second best solutions.PPP implies an opportunity to let the user-payment give desired incentives in the form of Social Marginal Cost Pricing (SMCP). A PPP project is a set of contracts and agreements between several parties, including the Government, the private contractor, subcontractors, banks and infrastructure users. These contracts should be designed to give the right incentives to the parties to achieve optimal risk allocation and utilising of resources.Long contract-periods are a common feature of PPPs. The paper examines the way that financial solutions should be designed to achieve the goals for the PPP-projects concerning economic and social efficiency. The expected size and variation of the income stream from the project will influence the loan conditions offered by banks concerning interest rates, guarantees and repayment and also the ability to attract investors. The balance between equity and loans again influences the conditions of the loans. An additional problem is asymmetric information between parties. The private contractor usually knows more about the task than the Government (hidden knowledge), and the Government cannot have full knowledge of the efforts of the contractor (hidden actions).     

Transport pricing and Public-Private Partnerships in theory: Issues and Suggestions

This chapter offers a theoretical examination of the following questions: what are the issues that arise when Social Marginal Cost Pricing is to be incorporated in Public-Private Partnerships (PPPs); and how may these issues be dealt with?We first briefly discuss Public-Private Partnerships in transport: what are the defining characteristics and what are the main types that exist in the different modes of transport? Next we consider the economics of Public-Private Partnerships, in particular from the viewpoint of incentives. Subsequently we identify and examine the issues that arise when Social Marginal Cost Pricing is to be incorporated in PPPs as a regulation with regard to pricing in the transport sector. Lastly, we investigate the possibilities of resolving these issues.     

A latent variable representation of count data models to accommodate spatial and temporal dependence: Application to predicting crash frequency at intersections

This paper proposes a reformulation of count models as a special case of generalized ordered-response models in which a single latent continuous variable is partitioned into mutually exclusive intervals. Using this equivalent latent variable-based generalized ordered response framework for count data models, we are then able to gainfully and efficiently introduce temporal and spatial dependencies through the latent continuous variables. Our formulation also allows handling excess zeros in correlated count data, a phenomenon that is commonly found in practice. A composite marginal likelihood inference approach is used to estimate model parameters. The modeling framework is applied to predict crash frequency at urban intersections in Arlington, Texas. The sample is drawn from the Texas Department of Transportation (TxDOT) crash incident files between 2003 and 2009, resulting in 1190 intersection-year observations. The results reveal the presence of intersection-specific time-invariant unobserved components influencing crash propensity and a spatial lag structure to characterize spatial dependence. Roadway configuration, approach roadway functional types, traffic control type, total daily entering traffic volumes and the split of volumes between approaches are all important variables in determining crash frequency at intersections.     

城市客运交通工具碳排放效率差异——以襄阳市为例

为准确测度城市客运工具碳排放效率的差异,探寻多元出行和碳减排双赢的改进路径,本文构建涵盖车辆存量、道路、土地、能源及环境 5 大要素体系,利用三阶段超效率 SBM-DEA (Slacks-Based Measure)模型和SFA(Stochastic Frontier Approach)方法,测度城市客运工具碳排放效率,并厘清政策和外生环境因素对投入要素冗余的影响;构建效率贡献度和边际效应模型分析投入产出要素的效率贡献度及其边际效应。基于襄阳市的案例表明：7种客运工具的碳排放效率呈传统公共交通(含巡游车)大于共享交通大于私人交通的差异化态势;外生环境因素中,优化能源结构能显著减少能源资源的多余消耗,交通工具的便捷性对消除多余投入具有显著积极作 用。效率贡献度结果反映碳排放效率提升路径的异质性：车辆规模过剩是制约共享交通碳排放效率的主要原因,规模每减少10%,效率分别提高12.0%(网约车)和19.8%(共享电踏车)。清洁能源发展对私家车碳排放效率的提升作用较大,清洁比例每增加10%,碳排放效率平均提高8.9%。 在现阶段公交优先发展水平下,公交车平均运行速度每增加1 km∙h-1 ,碳排放效率提高0.201。 并从技术和管理两方面提出改善碳排放效率的建议和措施。     

公共交通定价与最优政府补偿模型

为了完善公共交通定价与政府补偿机制,分析了规模报酬递增、正外部性和次优理论3个潜在经济机理,建立了3个定价与补偿优化模型,并以西安公交为例进行了公共交通定价与补偿模型的应用。分析结果表明:基于规模报酬递增的边际成本定价与补偿模型,社会福利最佳且最为实用;基于正外部性的供求平衡定价与补偿模型,企业福利最佳;基于次优理论的Ramsey定价与补偿模型,在原理诠释方面最佳;补偿模型测算2009年西安公交的政府补偿金额为9.78亿元,符合现实需求,模型有效。     

南汇边滩细颗粒泥沙动水沉降的实验研究

细颗粒泥沙在盐水中的絮凝沉降是河流泥沙向海输送过程中在河口区发生的重要现象之一。文章根据室内环形水槽实验对南汇边滩泥沙由盐度和含沙量这两种因素在不同的流速条件下的沉降特性进行了研究。该实验结果对该区域实施围垦工程有实际意义。     

海事事故严重性影响因素及影响程度识别

以上海、浙江、江苏海事局发布的海事事故调查报告为基础,通过建立有序概率模型(包括有序Logit模型和有序Probit模型),对海事事故严重性影响因素及影响程度进行识别.结果表明:有序概率模型适于研究该问题,且有序Logit模型优于有序Probit模型;季节、时段、天气、通航水域、船型、船长、船舶所有权等对较大及以上事故具有正向影响,能见度对较大及以上事故具有负向影响.其中,船长200 m影响最大(边际效应为0.378 3),夏季影响次之(0.282 2);能见度不良影响最小(-0.108 0),个体所有船舶影响次之(0.109 5).研究结果可为海事安全部门开展安全监管工作提供决策参考.     

基于均值异质性随机参数Logit模型的城市道路事故驾驶员受伤严重程度研究

驾驶员事故严重程度诱因分析对减少伤亡事故具有重要意义,以往研究假定影响变量为固定参数容易导致参数估计及研究推论出现偏差,据此本文基于均值异质性的随机参数Logit模型深入研究城市道路事故驾驶员受伤严重程度.使用2015—2019年发生在贵阳市的道路交通事故数据,综合考虑驾驶员、车辆、道路、环境特征等潜在影响因素,同时利...     

Jack-up conversion for production

For the production development of marginal offshore oil fields or to achieve early production in offshore fields scheduled for full production facilities a jack-up drilling rig can be converted to operate as a mobile production unit. This paper presents a summary discussion of the main aspects to be considered in the design, conversion, installation and operation of a jack-up production unit.