To kill a real option – Incomplete contracts,real options and PPP

This paper is concerned with the implications of public–private partnership agreements for the execution of expansion options in road infrastructure. More specifically, it analyzes the expansion of an existing two-lane road in Sweden, and examines the real options created by an intermediate type of road with three lanes. Interpreting the results from real option analysis in the light of incomplete contract theory, this paper finds that external congestion costs might necessitate public ownership to ensure a social optimal outcome in public–private partnerships.     

Estimating traffic demand risk – A multiscale analysis

This paper proposes a novel method for estimating the traffic demand risk associated with transportation. Using mathematical properties of wavelets, we develop a statistical measure of traffic demand sensitivity with respect to GDP. This measure can be adapted in a flexible way to capture risk levels relevant for different investment horizons. We demonstrate the timescale decomposition of risk with Swedish traffic demand data for 1950–2005. In general, rail transport shows a stronger co-movement with GDP than road transport. Moreover, we examine the volatility exhibited by traffic demand. Our findings suggest that rail investments are more risky than road investments. Since the findings can be used for optimal investment timing and for choice between public investment alternatives, they are deemed important for public policy in general.     

Aircraft Landing Gear Dynamics: Simulation and Control

The landing gear is an inevitable system for the aircraft. It absorbs the energy of the landing impact and carries the aircraft weight at all ground operations, including take off, taxiing, and towing. Numerical simulation has become an invaluable tool for the assessment of landing gear dynamics as well as of aircraft/landing gear interaction. This paper gives an overview of the landing gear requirements and illustrates landing gear operational conditions, i.e., the shimmy problem, the dynamics at touch down and at ground roll. Furthermore, three software packages used in the simulation of aircraft ground dynamics are presented. A look at flight simulators and landing gear test facilities follows. Finally, the possible application of controlled landing gears is discussed.     

Aeroelastic Effects in Multibody Dynamics

To enable a realistic assessment of the aeroelastic phenomena of aircraft, a simultaneous application of computational fluid dynamics (CFD), computational structural mechanics and flight mechanics has to be performed. Each discipline has developed powerful specialized tools which have to be adapted for multidisciplinary applications. The combination of CFD and elastic multibody systems is well suited for the simulation of a range of aircraft applications, especially for aircraft ground dynamics. Approaches to a coupling of elastic multibody systems and computational fluid dynamics have been performed using close coupling, that is a modal approach, and loose coupling, that is by co-simulation. In the article the applied programs and the coupling methods are presented. Advantages and limits of using multibody simulation as compared to the direct use of FEA methods for the representation of structural dynamics are discussed. Results of coupled steady and unsteady simulations are presented. Finally, an approach to the aeroelastic trim problem is shown.     

Overview of Coupling of Multibody and Control Engineering Tools

The role of Computer Aided Engineering in vehicle development has been significantly increased during the last decade. Specialised simulation tools became very complex, however, growing demands on complexity and particularly interdisciplinarity of vehicles and their simulation models have led to a number of approaches trying either to develop multidisciplinary simulation tools or to connect various specialised simulation tools by interfaces. This paper addresses some aspects of interconnection of the specialised simulation tools as one possibility for simulating complex mechatronic vehicle systems. It classifies the interfaces between specialised software packages in general, mentions some historical development of the interfacing and further discusses the examples of the implemented couplings between the Multibody System codes and Computer Aided Control Engineering tools. Finally, the performance of selected interfaces is compared on an example simulation of a controlled vehicle suspension.