Consistency and fungibility of monetary valuations in transport: An empirical analysis of framing and mental accounting effects

Governments around the world use monetised values of transport externalities to undertake project appraisal and cost–benefit analysis. However, because different types of benefits are monetised (e.g., travel time savings, preventing statistical fatalities, reliability, etc.) the question naturally arises as to whether they are consistent. That is, whether a “dollar is a dollar” as welfare economics requires, or whether spending money in one area carries a different disutility from spending money in another area. This would equate to a violation of fungibility, which is the property of a good or a commodity whose individual units are capable of mutual substitution. The view that money is not fungible is explained in behavioural economics through theories of framing and mental accounting. This paper describes the results of a stated choice experiment designed to test the fungibility and consistency of monetary valuations in transport. From a nationally representative sample, we elicit direct values for the three pairwise trade-offs between travel time, travel cost, and safety. We then show that in the context of our analysis, any trade-offs inferred on the basis of other trade-offs, as is common practice (e.g. inferring a safety vs time trade-off on the basis of monetary valuations for time and safety), produces biased results, suggesting that the assumption of fungibility does not hold. Specifically, we find that time is valued more highly when valued directly by cost than when traded with safety, and the reverse is true for safety.     

Activity patterns,time use,and travel of millennials: a generation in transition?

Millennials, defined in this study as those born between 1979 and 2000, became the largest population segment in the United States in 2015. Compared to recent previous generations, they have been found to travel less, own fewer cars, have lower driver’s licensure rates, and use alternative modes more. But to what extent will these differences in behaviour persist as millennials move through various phases of the lifecycle? To address this question, this paper presents the results of a longitudinal analysis of the 2003–2013 American Time Use Survey data series. In early adulthood, younger millennials (born 1988–1994) are found to spend significantly more time in-home than older millennials (born 1979–1985), which indicates that there are substantial differences in activity-time use patterns across generations in early adulthood. Older millennials are, however, showing activity-time use patterns similar to their prior generation counterparts as they age, although some differences – particularly in time spent as a car driver – persist. Millennials appear to exhibit a lag in adopting the activity patterns of predecessor generations due to delayed lifecycle milestones (e.g. completing their education, getting jobs, marrying, and having children) and lingering effects of the economic recession, suggesting that travel demand will resume growth in the future.     

对船舶操纵性标准的急迫需求——休斯敦水道实船操纵性试航的经验

我认为,造船师和轮机师考虑海上环境设计的船舶,它们99.9%的时间在海上渡过。但他们忘了,这些船舶还必须进入河道装卸货物。当某件引起公众高度关注的事故发生,船舶建造者或许会进入公众视线,发现他们犯有疏忽罪,要为建造了动力不足和操纵不良的船舶负责。一位引航员的观点国际     

中国交通工程面临的挑战

在为上海市政府编写了交通白皮书初稿的4年之后,ColinBuchanan公司又受邀为已出版的白皮书的修改提供建议,以解决交通拥堵问题和确定不同交通方式应起的作用.建议提出应发展比导致拥堵的小汽车和出租汽车更好的交通方式,然后鼓励大众使用它们.依据在上海工作的经历,对中国交通工程面临的部分问题进行了阐述.     

20世纪美国应对机动性的交通构想及高速公路发展历程

为了阐述20世纪除汽车机动性外,交通发展经历的最重要的进程——城市高速公路的出现,考察了过去100年来美国城市交通规划的历史。通过回顾各种研究资料,认为资助州际公路发展所采用的方法使联邦和州公路工程师成为主管,这影响了公路的选线及设计。联邦公路工程师只关注机动车通过效率的最大化,而在很大程度上忽略了城市的其他利害关系。没有先进的规划理念指导、过度建设、稀疏、放射环状的道路网对于加强机动性取得了极大的效益,但通常要为此付出巨大的社会和环境成本。最后指出,在实践中要重新审视具有百年历史的协调交通与土地利用规划的观点,而且,公共财政权宜之计式的政治决策方式将对工程、出行和城市形态产生深远的影响。·     

Recycling of aluminum from fibre metal laminates

Recycling of aluminum alloy scrap obtained from delaminated fibre metal laminates (FMLs) was studied through high temperature refining in the presence of a salt flux. The aluminum alloy scrap contains approximately mass fraction w(Cu) = 4.4%, w(Mg) = 1.1% and w(Mn) = 0.6% (2024 aluminum alloy). The main objective of this research is to obtain a high metal yield, while maintaining its original alloy compositions. The work focuses on the metal yield and quality of recycled Al alloy under different refining conditions. The NaCl-KCl salt system was selected as the major components of flux in the Al alloy recycling. Two different flux compositions were employed at NaCl to KCl mass ratios of 44:56 and 70:30 respectively, based on either the eutectic composition, or the European preference. Different additives were introduced into the NaCl-KCl system to study the effect of flux component on recycling result. Although burning and oxidation loss of the alloying elements during re-melting and refining take place as the drawbacks of conventional refining process, the problems can be solved to a large extent by using an appropriate salt flux. Experimental results indicate that Mg in the alloy gets lost when adding cryolite in the NaCl-KCl salt system, though the metal yield can reach as high as 98%. However, by adding w(MgF₂) = 5% into the NaCl-KCl salt system (instead of using cryolite) all alloying elements were well controlled to its original composition with a metal yield of almost 98%.     

A simplified methodology for evaluating alternative tanker configurations

Current MARPOL regulations for hypothetical oil ouflow and tank size limitations apply a deterministic approach which does not properly account for varying wing tank and double-bottom dimensions. Important considerations such as the influence of hydrostatic balance and tidal changes on the stranded vessel are not addressed in these regulations. This paper presents a more rational approach for evaluating oil outflow for double-hull and mid-deck tankers. This proposed methodology, while easy to apply, allows for the optimization of tankage configurations, and provides an effective means for indexing the environmental performance of tankers.     

Union rivalry and crew reform in shipping: A United States—Australia comparison

The national-flag fleets of most of the traditional martitime nations have, in virtually every case, been in decline in the 1980s and 1990s, despite the continued growth of ocean shipping. They have declined in terms of numbers of vessels and numbers of sea-going jobs, although not necessarily in terms of cargo carried. However, a number of those nations have responded to the changed technological and competitive conditions with some success by attempting to adjust crewing and work practices on vessels at sea. Neither the USA nor Australia has been in the forefront of such change. However, considerably more progress has been made in modernizing crewing practices and work rules in the Australian-flag fleet than in the US-flag fleet. There are a variety of reasons for this, inluding government policy. However, it is our argument that one of the principal reasons the US fleet lags behind the Australian fleet in the adoption of modern crewing practices and work rules is the much greater degree of union rivalry in the US shipping industry. In fact, while the degree of fragmentation and rivalry among unions in the Australian flag fleet has declined dramatically since 1980, their US cousins have continued, and in some ways expanded, their pattern of fratricidal behavior. First we shall discuss some of the technological and competitive imperatives that are driving human resource management practices in shipping and the crewing and industrial relations adjustments that are being made around the world to adjust to them. Then we shall indicate how the Australian and US fleets have responded to these challenges. This will be followed by a discussion of unionism in the Australian and US maritime industrics as it has devloped in the last two decades of the twentieth century. Finally, we shall draw conclusions about the impact of different patterns of unionization.     

Multimodal traveling and its impact on urban transit network design

Multimodal trip making, that is trips using a combination of several modes between origin and destination, is expected to be beneficial to society and might offer advantages to the traveler as well. This article looks at some of the implications of multi‐modality in trip making for the design of urban transit systems since these play an important role in multi‐modal transportation systems. In this respect, the article looks at the strategic design characteristics of urban transit networks, that is line density, stop density and service frequencies for the case of multimodal access to urban transit networks and for hierarchical network structures in urban transit systems. The analyses show that multimodal access does not require alternative network structures. For hierarchical network structures it is concluded that these are primarily determined by the hierarchy in demand densities and thus by hierarchy in urban structures.     

The mispricing of transportation initial public offerings in the Chinese mainland and Hong Kong

This paper attempts to analyse the origins of the 1998 lockout and strike in Australian stevedoring which brought to an end a period of industrial peace and relative labour stability on the island continent's docks. The causes of the dispute along with the denouement are examined. The author also sets the dispute in the context of the pro-active multinational management of human resources in the global economy and the implications of such trends for Australia.