Search results for "Finance"
showing 10 items of 4676 documents
Port expansion and negative externalities: a willingness to accept approach
2015
Port expansion has been seen as the origin of negative externalities, affecting local residents’ well-being and contributing to the poor public image of ports. In this study, the contingent valuation method is used to estimate the costs borne by local residents as a consequence of the negative externalities derived from the growth of the Port of Valencia (Spain) in the last 30 years. As transport project appraisal has become more complex, this technique complements existing methodologies in this field, such as the social cost benefit analysis and the multicriteria analysis. Given the perceived property rights of families that have been living close to the port for a long time, a willingness…
Competition for long-haul connecting traffic among airports in Europe and the Middle East
2017
Abstract This paper analyzes the competitive position of major hub airports in Europe and the Middle East for long-haul connecting traffic. We apply a connection builder to construct competitive flight connections. A stand out feature of the proposed connection builder is the calibration of the model parameters using booking data, composed of actual passenger demand between a given origin and destination (O&D) market. The methodology is applied to measure competition between hubs using flight schedule data to calculate connectivity measures like the number of city-pairs connected via a hub airport. Our results show that the Middle Eastern hubs have improved their competitive position, while…
Multivariate modeling and analysis of regional ocean freight rates
2018
Abstract In this paper, we propose a new multivariate model for the dynamics of regional ocean freight rates. We show that a cointegrated system of regional spot freight rates can be decomposed into a common non-stationary market factor and stationary regional deviations. The resulting integrated CAR process is new to the literature. By interpreting the common market factor as the global arithmetic average of the regional rates, both the market factor and the regional deviations are observable which simplifies the calibration of the model. Moreover, forward contracts on the market factor can be traded in the Forward Freight Agreement (FFA) market. We calibrate the model to historical spot r…
The impact of scrappage programmes on the demand for new vehicles: Evidence from Spain
2018
Abstract We evaluate the impact of the Spanish car scrappage programme introduced in May 2009 on short-run car purchases. The scrappage programme was simultaneously discussed and implemented and was therefore exogenous to the consumers. We analyse the effect of this programme on household new car purchase decision and household expenditures. The results show that the scrappage programme increased the probability of buying a new car but decreased the mean expenditure devoted to the purchase of this new vehicle. We also evaluate the effect of financial aid on household welfare. Our best estimate of the welfare gain related to the scrappage programme is very similar to the aid of €1000 offered…
Estimating the Demand for New Destinations for a Regional Airport Based on Its Catchment Area
2020
Abstract Estimating accurately demand both at market and company level for specific goods and services can be considered a necessity for every organization. Traditional demand estimation methods may not be relevant for estimating the demand for new destinations to be introduced by a regional airport. The present paper proposes to fill this gap and to develop the demand estimation literature by presenting a novel demand estimation method. Two research objectives are developed in this regard: (1) determining the catchment area of Sibiu International Airport (a regional airport in Romania) for destinations operated by competitor airports and not by Sibiu International Airport and (2) estimatin…
Competition and cooperation for intermodal container transhipment: A network optimization approach
2018
Abstract This study presents an analysis of cross-border competition and cooperation between ports in Bangladesh and India. Nepal and Bhutan are countries without access to seaports — two landlocked countries in South Asia, depending solely on the Indian port of Kolkata for their international seaborne trade. Alternatives do exist in the Bangladeshi ports of Chittagong and Mongla but these are not exploited, in spite of trade agreements that allow access to a third country's port, and/or crossing the land of a third, intermediate, country. We formulate a mixed integer linear programming optimization model to find the optimum economic benefit of port users (serving Bhutan, Nepal and Northeas…
The impact of an urban toll ring on housing prices
2020
Abstract Building on standard urban economics theory we set up a stylized model within which we demonstrate that the imposition of a toll ring leads to higher housing prices within the ring, and lower outside the ring. We examine this prediction empirically by using transaction data for 15,306 dwellings in the Norwegian town of Kristiansand, where since 1992 there has been a toll ring. We find that the toll ring implies 6.9 per cent higher housing prices within the toll ring than outside it. The relationship between toll fees and housing prices seems to be stable over time. The impact of the toll ring on the prices of detached houses, apartments, row houses and twin houses is strikingly dif…
Études scientifiques et marché du travail : éléments de réflexion sur la crise des formations en sciences
2007
Student disaffection towards sciences, most evident in pure science undergraduates, is causing increasing concern for the future of scientific training in France. If access to employment deteriorates more for science graduates than for graduates in other disciplines, science graduates will have a distinct advantage in terms of earnings and employment status, when the economic situation becomes less favourable. Within sciences, graduates of pure sciences have a more difficult transition from education to employment than those from applied sciences. Yet graduates from both disciplines compete for the same job in the private sector with pure science graduates receiving lower wages. The “crisis…
Vers une analyse pluridisciplinaire de la décision médicale
2009
International audience
The content and potential of the right to social assistance in light of Article 13 of the European Social Charter
2020
This article explores the current development of the right to social assistance as well as its potential for improving income support policies. Focusing on Article 13 of the European Social Charter (ESC), it aims to shed light on the content of such provision by identifying a list of comprehensive defining standards from the monitoring activity conducted by the European Committee of Social Rights (ECSR). Secondly, it asks whether the right can effectively enhance access to social assistance in practice by studying the implementation of the right in two national cases, the UK and Spain. The article concludes that Article 13 ESC imposes clear obligations on States Parties regarding aspects o…