By combining standardised calculation methods for total noise levels and monetary estimates from well-established evaluation methods, this study outlines a model to estimate the short-run marginal cost (SRMC) for road and railway noise that is able to differentiate not only modes of transport,...

In order to mitigate the negative effects of transportation and to achieve a competitive transport sector, infrastructure charges in the European Union should be based on short-run marginal costs. This paper shows that railway-noise charges can be estimated using already obtained knowledge of...

Are commodity prices mean reverting or do they follow a random walk? As traditional unit root tests lack power, this article proposes using the ability to hedge option contracts as a measure of the most appropriate stochastic process. A misspecified price process will, quite naturally, result in...

Stated preference (SP) surveys attempt to obtain monetary values for non-market goods that reflect individuals’ “true” preferences. Numerous empirical studies suggest that monetary values from SP studies are sensitive to survey design and so may not reflect respondents’ true preferences....

This paper introduces a new problem to the OR community that combines traditional tramp shipping with a vendor managed inventory (VMI) service. Such a service may replace the more traditional contract of affreightment (COA) which for decades has been the standard agreement between a tramp...