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.     

Consolidation and contestability in the European container handling industry

The first part of this paper brings into discussion some recent changes in the dynamics of the European container handling business, in particular as a result of vertical and horizontal integration strategies of container terminal operators. The industry structure has become sufficiently consolidated to raise a fundamental question about whether market forces are sufficient to prevent the abuse of market power. In this context, reference is made to the theory of contestable markets. The second part of the paper looks more closely to the issue of contestability by means of an exploratory and qualitative study of elements that could prevent other players entering or exiting the European container handling market. As such, a first indication is given of the degree of contestability in the container handling industry.     

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.     

Maritime liner shipping and the stevedoring industry: market structure and competition strategies

Globalization, liberalization, competition and spatial interaction are significant factors affecting the transformation of manufacturing industries worldwide. In the transportation and logistics industry, however, cooperation is becoming even more critical than competition in determining firms' efficiency. Cooperation has always characterized the liner sector in which strategic alliances, mergers and acquisitions have generated twin effects: notable increases in ship size and falls in freight rates. Meanwhile, the stevedoring industry is undergoing privatization-driven consolidation and the emergence of global pure terminal operators. This article focuses on vertical integration between global carriers and terminal operators. We address the following key current issues:

• dedicated terminals as a strategy for cutting costs and controlling integrated transport chains;
• the struggle for supply chain control, involving global carriers versus global terminal operators, driven by financial power and technical and managerial capability.

We close analysing one of the core problems of the market, namely the evolving role of the dedicated terminals. For the pure stevedores they represent an opportunity to secure a cargo, while in the hands of the liners they enable cost stability and the possibility to put pressure on pure terminal operators.     

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.     

Joint development at transit stations in the United States

Joint development, as the term is generally used in connection with transit systems in the United States, is real estate development that is closely linked to public transportation services and station facilities, and takes advantage of the market and locational advantages provided by them. Research conducted by LEK Associates for the Urban Mass Transportation Administration (UMTA) suggests that, in addition to helping shape urban growth and land development, joint development is also a surprisingly effective means of increasing transit system ridership and farebox revenues, as well as a source of increasingly significant revenues from the sale or lease of air rights.The completion of nine joint development projects in as many different cities, started under the former Urban Initiatives Program, for example, net additional annual ridership might reach 12000000 one-way trips. Net additional annual farebox revenues might reach over $9000000. This added revenue would be sufficient to repay the $62 million combined UMTA/transit operator investment in the nine projects, exclusive of the costs of the basic transit system improvements around which the projects are planned, in less than six years.Among transit authority-administered joint development programs examined in a separate study, the Washington Metropolitan Area Transit Authority (WMATA) has had the most success in generating significant value capture income. For example, the cumulative revenue realized by WMATA from just six joint development projects in the Washington, DC region, through September 1983 exceeded $ 6.9 million. Projections through fiscal year 1986 indicate cumulative revenues approximating $ 28 million will be received from developer leases.     

The design of bus route systems — An interactive location-allocation approach

An interactive modelling approach is developed to solve the practical problem of bus route network design. Possible bus routes are identified with facilities which can be located. Zones or pairs of zones in the urban area are identified with customers who will be allocated to the established facilities. It is shown that the classical Set Covering Problem is useful under the assumption of fixed demand; the Simple Plant Location Problem is effective under the assumption of demand which is sensitive to the level of bus service provided.     

Performance indicators for transit management

Transit performance can be evaluated through quantitative indicators. As the provision of efficient and effective transit service are appropriate goals to be encouraged by federal and state governments, these goals are used to develop performance indicators.Three efficiency and four effectiveness indicators are described, together with two overall indicators. These nine indicators are analyzed for comparability utilizing operating and financial data collected from public transit agencies in California.Performance indicators selected for this study should not be viewed as final. Twenty-one performance indicators proposed by previous studies were reviewed. Theoretical considerations and unavailability or unreliability of data caused omission of several useful measures like passenger-miles. Circumstances such as improved data, emphasis upon goals other than efficiency and effectiveness, and local conditions might warrant the inclusion of indicators deleted from this research.This paper is based on work conducted for the Urban Mass Transportation Administration under University Research and Training Grant CA-11-0014, Development of Performance Indicators for Transit. The views expressed herein are those of the authors and not necessarily those of the University of California or the United States Government. We are indebted to John Feren for assistance with the statistical processing and data gathering.