Risk and return of U.S. water transportation stocks over time and over bull and bear market conditions

The aim of this paper is to investigate the behaviour of water transportation company stock returns in the U.S. stock exchanges from 1985 to 1994 in order to determine whether the systematic risk of this industry is different from that of the 'average' company in the market, whether it has changed over the ten year period, over bull and bear market conditions, and whether there is a firm 'size' effect in the industry. In the context of the Capital Asset Pricing Model (Capm), we find that the systematic risk of the shipping industry return is not different from that of the 'average' company. It is also found that the covariance of water transportation companies with respect to the overall stock market return did not change over the ten year period although it appears that it has changed over normal upward/downward market movements. There is also reasonable evidence that the intercept of the equation might have changed over normal upward/downward market movements. Finally, we document contradictory evidence regarding the size effect; during the period 1985-1989 we find small companies to have significantly higher returns and risk while during the period 1990-1994 medium size companies tend to have higher risk than small and large firms, which is not however compensated by higher returns.     

Analysis of Driver's Decelerating Strategy in a Car-following Situation

This report describes a decelerating driver-model expressed by driving mode transition in car-following situations. The assumptions for constructing the model are that decelerating strategy of a driver is classified into several simple driving modes and that a driver changs his driving modes based on his perceptible characteristics and experiential rules. Deceleration action is divided into three states; following, standing and braking, which are applied to the model. The model has two paths for driver's decelerating action, one of which is selected by the driver based on the perceptible characteristics and experiential rules. The suitability of the model has been experimentally verified.     

Multiphysic modelling of railway vehicles equipped with pneumatic suspensions

This article presents a multidisciplinary approach of railway pneumatic suspension modelling: both multibody and pneumatic aspects are taken into account. The work aims at obtaining a realistic model of the secondary suspension and coupling it with a multibody model of a train. Various components of the pneumatic circuit such as bellows, tanks, pipes and valves are taken into account. The article focuses on the bellow-pipe-tank subsystem for which several modelling approaches are presented and compared. Differences between differential and algebraic models are highlighted, and an application-dependent choice between them is suggested. A complete model of the pneumatic circuit is then obtained and coupled with a multibody model of the train. As a result, the behaviour of a suburban train equipped with a pneumatic secondary suspension is analysed, in particular undesired oscillating motions which affect the comfort. Topological modifications and improvements of the suspension are also investigated and discussed.     

Wave impact on a horizontal elastic plate

The objective is to find slamming-induced local stresses in the steel or aluminum wetdeck of a multihull vessel. This is studied theoretically by representing the wetdeck as a beam model and accounting for dynamic hydroelastic effects. Two numerical methods are used, one being a simplified asymptotic solution. Satisfactory agreement between the two methods is reported. Experimental drop tests of horizontal elastic plates of steel and aluminum are also reported, and the results from the experiments agree well with the numerical computations. This study reveals, both numerically and experimentally, that slamming-induced local stresses are strongly influenced by dynamic hydroelastic effects. The maximum bending stresses are insensitive to where waves hit, the curvature of the waves, and maximum pressures. Measured maximum pressures are very sensitive to external conditions, and cannot be used as a measure of maximum local bending stresses. A simple procedure for local design stresses due to wetdeck slamming is outlined.     

Managing transportation during highway reconstruction: A recommended process

Major highway reconstruction can cause significant disruptions to existing travel patterns and economic activity. Reducing these impacts on travelers, shippers, businesses and residents requires that innovative and effective transportation management actions be developed and implemented. This paper reports the major findings and recommendations of a research study on managing transportation during highway, reconstruction. The primary objectives of the study were

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.     

Fuzzy-logic applied to yaw moment control for vehicle stability

In this paper, we propose a new yaw moment control based on fuzzy logic to improve vehicle handling and stability. The advantages of fuzzy methods are their simplicity and their good performance in controlling non-linear systems. The developed controller generates the suitable yaw moment which is obtained from the difference of the brake forces between the front wheels so that the vehicle follows the target values of the yaw rate and the sideslip angle. The simulation results show the effectiveness of the proposed control method when the vehicle is subjected to different cornering steering manoeuvres such as change line and J-turn under different driving conditions (dry road and snow-covered).     

Exploring the impact of walk–bike infrastructure,safety perception,and built-environment on active transportation mode choice: a random parameter model using New York City commuter data

This study estimates a random parameter (mixed) logit model for active transportation (walk and bicycle) choices for work trips in the New York City (using 2010–2011 Regional Household Travel Survey Data). We explored the effects of traffic safety, walk–bike network facilities, and land use attributes on walk and bicycle mode choice decision in the New York City for home-to-work commute. Applying the flexible econometric structure of random parameter models, we capture the heterogeneity in the decision making process and simulate scenarios considering improvement in walk–bike infrastructure such as sidewalk width and length of bike lane. Our results indicate that increasing sidewalk width, total length of bike lane, and proportion of protected bike lane will increase the likelihood of more people taking active transportation mode This suggests that the local authorities and planning agencies to invest more on building and maintaining the infrastructure for pedestrians. Further, improvement in traffic safety by reducing traffic crashes involving pedestrians and bicyclists, will increase the likelihood of taking active transportation modes. Our results also show positive correlation between number of non-motorized trips by the other family members and the likelihood to choose active transportation mode. The model would be an essential tool to estimate the impact of improving traffic safety and walk–bike infrastructure which will assist in investment decision making.     

Using multiple hybrid spatial design network analysis to predict longitudinal effect of a major city centre redevelopment on pedestrian flows

Transportation - Predicting how changes to the urban environment layout will affect the spatial distribution of pedestrian flows is important for environmental, social and economic sustainability....     

Impacts of urban built environment on empty taxi trips using limited geolocation data

This study identifies the determinants of the empty taxi trip duration (ETTD) by combining three high-resolution databases—geolocation data in New York City, geodatabase of urban planning data, and transportation facilities data. Considering the nature of duration data, hazard-based duration model is proposed to explore the relationships between causal factors and ETTD, coupling with three variations of baseline hazard distribution, i.e., Weibull distribution with heterogeneity, Weibull distribution, and log-logistic. Furthermore, the likelihood ratio test is presented to implement comparisons of three baseline hazard distributions, as well as spatial and temporal transferability of causal factors. The results show significant complementary effects by subway system and competitive effects by city bus and bicycling system, as well as significant impacts of trip length, airport trip, average annual income, and employment rate. Urban built environment, for instance, density of road, public facilities, and recreational sites and ratio of green space, has various impacts on ETTD. The elasticity estimations confirm significant spatial and temporal heterogeneity in impacts on ETTD. In addition, the analysis on elasticity also reveals the considerable impacts of severe traffic congestion on ETTD within Manhattan. The modeling can assist stakeholders in understanding empty taxi movements and measuring taxi system efficiency in urban areas.