: Pablo Coto-Millán, Vicente Inglada
: Essays on Transport Economics
: Physica-Verlag
: 9783790817652
: 1
: CHF 132.70
:
: Betriebswirtschaft
: English
: 381
: Wasserzeichen/DRM
: PC/MAC/eReader/Tablet
: PDF

This book explores analytical methods used in transportation economics and policy analysis. Encompassing fields of economics such as Industrial Organisation, Welfare Economics, General Equilibrium Theory and Input-Output-Analysis, the study of transport from an economic point of view serves as a test bench for applying methodologies of economic science to the real world. Each chapter opens with a brief theoretical introduction before evaluating case studies, using the state-of-the-art statistical and econometric techniques.

1 A Reassessment of the Characterisation of Congestion on an Urban Road Network– Some Theoretical Suggestions and Illustrative Experiments (p. 7-8)

Truong P. Truong
School of Economics
University of New South Wales (Australia)

David A. Hensher
Institute of Transport and Logistics Studies
University of Sydney (Australia)

To the memory of Peter J. Hills

1.1 Introduction

When a road user selects a particular part of the network to use, they are in the main buying speed– or its inverse, travel time savings, in return for an outlay of money, the latter including a toll or congestion charge where applicable. To study the phenomenon of buying speed as the indicator of service levels within a particular link, it is important to consider also the issue of interconnections between different links, since speed (and all its related concepts such as travel time, link capacity, and congestion) is to be seen as the outcome, not only of what happens on a particular link, but also of available service levels on other inter-connected links. In this paper, we first establish the framework for analysing the basic activity on one link, and then extend the analysis to consider the interconnection between different links. The purpose of the framework is to establish a foundation on which more comprehensive analysis of a general inter-connected network can be carried out in a routine manner, once the basic building blocks have been created. We show that the approach can be considered as a modification and/or extension of the traditional approach (e.g., Else 1981, Evans 1992) where the concepts of‘capacity’ and‘congestion’ have been defined, not explicitly, in terms of the infra structure capacity of the network or the traffic volume density, but rather in terms of the traffic flow outcome, which is the product of these two basic variables1. We will illustrate that by separating out the two basic components of this traffic flow variable, we can see the underlying process of interaction between travel demand and capacity supply, or price (travel time, or its inverse, speed) and quantity (traffic density) more clearly as compared to the situation when both of these components are mixed together in a single‘flow’ variable.

Having defined the basic concepts of‘price’ and‘quantity’ in an economic framework describing the underlying travel activity supply and demand, we can then relate these concepts to the empirical data on how prices and quantities (or demand and supply) are related to each other in different empirical situations. These empirical observations often take the form of traffic density-travel time (or speed) curves, which are unique characteristics for each particular link. From these empirical observations, we can deduce an underlying congestion‘index’ to represent the equilibrium outcome of the demand-supply interactions in a particular circumstance. We then use these indices as criteria to plan for the future, either in the form of short run‘congestion pricing’, to reduce the level of congestion at a particular link, given a fixed capacity, and/or long run investment planning, to expand capacity to cope with expected rising demand. The congestion index is a useful way of summarising the underlying demand-supply interactions, as a guide for policy design.

The paper is organised as follows. Section 2 defines the basic concepts of‘capacity’ and‘congestion’. Section 3 establishes the basic economic framework for linking the concepts of capacity and congestion as defined in the context of the basic individual travel activity within the transport link, as described by the theory of consumption (or production) of a congested public good. Section 4 then extends the analysis to apply to the case of a heterogenous population of travellers within a given link. Section 5 illustrates how the theoretical approach can be applied, using the example of a simple network of two parallel links with data calibrated on the information obtained from the Sydney road network. Section 6 concludes the paper.

Contents6
Introduction13
PART I DEMAND17
1 A Reassessment of the Characterisation of Congestion on an Urban Road Network – Some Theoretical Suggestions and Illustrative Experiments19
1.1 Introduction19
1.2 Defining ‘Capacity’ and ‘Congestion’20
1.3 Linking ‘Capacity’ and ‘Congestion’ Concepts to the Basic Individual Travel Activity across a Transport Link23
1.4 Equilibrium Condition for a Heterogenous Population of Travellers29
1.5 Application31
1.6 Conclusions43
References43
2 Estimation of the Economic Value of Student Urban Travel Time45
2.1 Introduction45
2.2 Overview of Time Value Theories46
2.3 Time Value in Journeys to Study Locations in Santander54
2.4 Summary and Conclusions58
References59
3 Price and Income Elasticities for Intercity Public Transport in Spain63
3.1 Introduction63
3.2 Theoretical Model65
3.3 Empirical Evidence68
3.4 Fitted Time Series Models71
3.5 Conclusions73
References73
PART II SUPPLY AND EFFICIENCY76
4 Classifying Urban Passenger Transportation Services77
4.1 Introduction77
4.2 Service Structure and Type78
4.3 Transit Services79
4.4 Private Services81
4.5 Paratransit Services82
4.6 U. S. Street Railway and Motorbus Transit Services: A Historical Perspective83
4.7 Summary87
References88
5 Analysis of the Allocative Efficiency in Public Firms: the Case of Railway91
5.1 Introduction91
5.2 Formalization of the Theoretical Model92
5.3 Conclusions to the Theoretical Model94
5.4 The Distance Function94
5.5 Properties of the Distance Function96
5.6 The Shadow Price Estimation through the Use of a Shephard Distance Function97
5.7 The Functional Form100
5.8 The Econometric Estimation100
5.9 Data101
5.10 Empirical Results102
5.11 Summary and Conclusions106
References106
6 The Effect of Using Aggregated Output in the Economic Analysis of Cargo Handling Operations109
6.1 Introduction: Cargo Handling in Multipurpose Port Terminals109
6.2 Data and Aggregate Model Formulation110
6.3 A Cost Function with Distinct Outputs114
6.4 Comparisons and Discussion117
6.5 Conclusion118
References119
7 Scale Economies, Elasticities of Substitution and Behaviour of the Railway Transport Costs in Spain123
7.1 Introduction123
7.2 The Model124
7.3 The Data127
7.4 Empirical Results127
7.5 Summary and Conclusions131
References131
8 Efficiency Stochastic Frontiers: a Panel Data Analysis for Spanish Airports ( 1992- 1994)133
8.1 Introduction133
8.2 The Model134
8.3 The Data136
8.4 Econometric Results137
8.5 Conclusions138
References138
9 Multi-Output Analysis of the Costs and Productivity of Cargo Handling in Spanish Ports139
9.1 Introduction139
9.2 Cargo Handling Operations in Spain140
9.3 The Theoretical Framework143
9.4 The Model146
9.5 Analysis of Results148
9.6 Summary and Conclusions152
References153
PART III MARKET AND ECONOMIC IMPACT STUDIES157
10 Economic Impact Study: Application to Ports159
10.1 Introduction159
10.2 Aims and Utility160
10.3 Analysis of Different Methodologies160
10.4 A Dynamic View of Port Impact Studies164
10.5 Criticisms and Defences of Port Impact Studies164
10.6 New Openings167
10.7 Final Reflections167
References168
11 Airport Management and Airline Competition in OECD Markets171
11.1 Introduction171
11.2 Airport Management Practices in OECD Countries172
11.3 Competition in the Air Transport Industry: the Interaction between Airports and Airlines185
11.4 Concluding Remarks190
References191
12 Dynamising Economic Impact Studies: the Case of the Port of Seville195
12.1 Introduction195
12.2 System Dynamics Model of the Port of Seville2197
12.3 Economic Impact of the Port of Seville on the Province of Seville209
12.4 Dynamising Employment through the Simulation Model210
12.5 Sensitivity Analysis212
12.6 Main Results and Co