Cost overruns have been shown to occur in a significant number of transportation investment projects. While there is some literature on the causes of risk of cost overruns in transportation capital investment, little is available on how properly to estimate this risk and how to incorporate risk...

We study the implications of vertical integration in logistics and transport operations for welfare-optimal port access charges and hinterland congestion tolls. We show that, first, vertical integration of terminal operators and transport firms does not affect the optimal congestion toll rule...

A recent survey found that 40 per cent of vessels arrive later than planned, so demand uncertainty is a salient feature of port terminal activity. Terminals facing greater demand uncertainty and that wish to cater for this will incur extra costs to avoid the risk that shipping companies replace...

This paper analyses the impacts of highway development with different financing strategies. We examine two ways in which the government can finance highway development projects: it can (a) use current tax system, or (b) impose earmarked taxes. Our model is composed of a transport network model...

This paper presents an exploration of the process of setting warranted ship speed and fuel consumption in ocean shipping time charter contracts. We formulate a conceptual model in which warranted ship speed and fuel consumption are related to an underperformance claim. We test hypotheses...

This article presents a methodology to determine the optimal intensity of Incident Management (IM) on the road in order to reduce time losses of road users. We combine the probability of time loss because of an incident with the expected average time loss in the cost function of the road user. A...

This paper investigates the relationship between the dynamics of the term structure and time-varying volatility of shipping freight rates. Using a dataset covering the period from January 1992 to September 2007 and augmented EGARCH models, we find support for the argument that the volatility of...