File Download
  Links for fulltext
     (May Require Subscription)
Supplementary

Article: Transit technology investment and selection under urban population volatility: A real option perspective

TitleTransit technology investment and selection under urban population volatility: A real option perspective
Authors
Issue Date2015
PublisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/trb
Citation
Transportation Research Part B: Methodological, 2015, v. 78, p. 318-340 How to Cite?
AbstractThis paper addresses transit technology investment issues under urban population volatility using a real option approach. Two important problems are investigated: which transit technology should be selected and when should it be introduced. A real option model is proposed to incorporate explicitly the effects of transit technology investment on urban spatial structure in terms of households’ residential location choices and housing market. The trigger population thresholds for investing in a transit technology project and for shifting from a transit technology to another are explored analytically. Comparative static analyses of the urban system and transit technology investment are also carried out. It was found that (i) transit technology investment can induce urban sprawl; (ii) ignoring the effects of transit technology investment on urban spatial equilibrium can lead to a late investment; and (iii) there is a significant difference in the trigger population thresholds for transit technology shift estimated by the net present value approach and the real option approach.
Persistent Identifierhttp://hdl.handle.net/10722/210698
ISSN
2015 Impact Factor: 3.769
2015 SCImago Journal Rankings: 3.905

 

DC FieldValueLanguage
dc.contributor.authorLi, ZC-
dc.contributor.authorGuo, QW-
dc.contributor.authorLam, WHK-
dc.contributor.authorWong, SC-
dc.date.accessioned2015-06-23T05:47:42Z-
dc.date.available2015-06-23T05:47:42Z-
dc.date.issued2015-
dc.identifier.citationTransportation Research Part B: Methodological, 2015, v. 78, p. 318-340-
dc.identifier.issn0191-2615-
dc.identifier.urihttp://hdl.handle.net/10722/210698-
dc.description.abstractThis paper addresses transit technology investment issues under urban population volatility using a real option approach. Two important problems are investigated: which transit technology should be selected and when should it be introduced. A real option model is proposed to incorporate explicitly the effects of transit technology investment on urban spatial structure in terms of households’ residential location choices and housing market. The trigger population thresholds for investing in a transit technology project and for shifting from a transit technology to another are explored analytically. Comparative static analyses of the urban system and transit technology investment are also carried out. It was found that (i) transit technology investment can induce urban sprawl; (ii) ignoring the effects of transit technology investment on urban spatial equilibrium can lead to a late investment; and (iii) there is a significant difference in the trigger population thresholds for transit technology shift estimated by the net present value approach and the real option approach.-
dc.languageeng-
dc.publisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/trb-
dc.relation.ispartofTransportation Research Part B: Methodological-
dc.rightsThis work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.-
dc.titleTransit technology investment and selection under urban population volatility: A real option perspective-
dc.typeArticle-
dc.identifier.emailWong, SC: hhecwsc@hku.hk-
dc.identifier.authorityWong, SC=rp00191-
dc.description.naturepostprint-
dc.identifier.doi10.1016/j.trb.2015.05.006-
dc.identifier.hkuros243630-
dc.identifier.volume78-
dc.identifier.spage318-
dc.identifier.epage340-
dc.publisher.placeUnited Kingdom-

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats