Estimation of option and non-use values for intercity passenger rail services

This paper considers option and non-use values of intercity passenger rail services in Korea. The total economic value of a given transport service can be classified into use, option and non-use values, but other grouping rules can be applied, respectively. The use value is the consumer’s surplus from the actual ride of a specific mode. The option value, on the other hand, can be defined as a traveller’s willingness to pay for reserving a travel mode, which is not his or her main choice, as a standby alternative. Finally, the non-use value represents benefits that are not attributable to the actual use or option use, but to the vicarious, altruistic, functional and existing worth of a transport service. A random stated preference survey based on a double-bounded dichotomous choice is conducted. A survival model is applied to the data collected. Calculations are based on trip makers’ willingness to pay for option and non-use values, using the parameters of the estimated survival model. Some concluding remarks are also presented.     

Mapping landscape values and development preferences: a method for tourism and residential development planning

This paper presents a method for measuring and analysing tourism and residential development options using survey research techniques that spatially locate public‐perceived landscape values and development preferences. Using survey data from Kangaroo Island, South Australia, landscape values and preferences for tourism development are analysed to determine the relative strength of landscape values as predictors of place‐specific development preferences. Results indicate that tourism development preferences are most closely associated with recreation, economic and scenic landscape values whereas residential development preferences are most closely associated with recreation, economic and learning values. Preferences for ‘no development’ are most closely associated with wilderness, therapeutic and intrinsic landscape values. A simple development index is generated from the spatial data that ranges from positive (acceptable development) to negative (no development) values. The potential benefits of the method for land‐use planning processes are discussed. Copyright © 2006 John Wiley &Sons, Ltd.     

Helmet non-use by users of bikeshare programs,electric bicycles,racing bicycles,and personal bicycles: An observational study in Taipei,Taiwan

The bikeshare program in Taipei City and New Taipei City, called U-bike, was launched in August 2012 and has more than 7500 bicycles operating out of 769 stations. Research has suggested that bicycle helmet use is a means of reducing morbidity and mortality among bike users. Helmets, however, are not available for rent when a U-bike is rented. The current research conducted an observational study to examine the prevalence of helmet non-use by users of the bikeshare program, electric bicycles, racing bicycles, and personal bicycles in Taipei City and New Taipei City. Trained observers using compact video cameras collected helmet non-use data during various times of the day and on different days of the week. Observers collected data on cyclist attributes, bicycle types, and helmet use at several selected locations within Taipei City and New Taipei City. U-bike users were found to be the least likely to wear helmets. Other noteworthy findings include that violations such as phone use, red-light violations, and travelling at ≥25 km/h were associated with riding without a helmet. Male users of racing bikes tended not to wear helmets, while female users of other bicycle types were less likely to use a helmet. Carrying passengers by users of electric bikes and personal bikes was a determinant of helmet non-use. This paper concludes with a discussion and recommendations for future research.     

Real option analysis of aircraft acquisition: A case study

This paper demonstrates that aircraft acquisition by airlines may contain a portfolio of real options (flexible strategies) embedded in the investment's life cycle, and that if airlines rely solely on the static NPV method, they are likely to underestimate the true investment value. Two real options are investigated: i) the “shutdown-restart” option (a carrier may shutdown a plane if revenues are less than costs, but restarts it if revenues are more than costs), and ii) the option to defer aircraft delivery. We quantify the values of these options in a case study of a major U.S. airline. The economic insight could help explain observed capital expenditures of airlines, and serve as a rule of thumb in evaluating capital budgeting decisions. A compound option (consisting of both the shutdown-restart and defer options) is also analyzed.     

Trading off public values in High-Speed Rail development in China

Theory on how different public values are prioritized in transport infrastructure planning is growing increasingly sophisticated, but most of it has focused on Western countries. Its relevance to China is thus far unknown territory. In this article, we apply the theory on public values and the way various values are traded off against each other to the case of High-Speed Rail development in China. We develop a Public value tradeoff matrix enabling us to identify and measure the various public values at play and to establish what changes took place in the prioritization of various public values over time. In the history of HSR development in China, a shift from regional equity and safety through economic growth and speed to organizational efficiency and cooperation can be observed in the period before HSR took off in China until now. The trading off process takes place through different institutional paradigms and organizational mechanisms in China than in Europe and America, and occurs more at the strategic apex of the administrative hierarchy.     

Cruise travel motivations and repeat cruising behaviour: impact of relationship investment

Passenger retention is undoubtedly one of the major challenges for cruise lines. Given that little is known about passengers’ post-purchase behaviour in the luxury cruise sector, this study addressed this omission by empirically verifying the imperative role of motivations, values, image, desire, and relationship investment in generating repeat cruising intentions. The proposed conceptual framework comprising these triggers was in general supported. In addition, its prediction ability for repurchase decision was sufficient. Specifically, our empirical findings demonstrated the adequacy of the higher order structure of cruise travel motivations that considerably increase hedonic and utilitarian values. Our results further identified the comparative importance of overall company image in determining intention. The mediating role of the study variables was also found. Lastly, the results of the metric-invariance model assessment revealed that relationship investment significantly moderated the value–image–desire linkages. Implications for tourism academics and cruise practitioners and future research directions are discussed.     

Safety and travel time in cost-benefit analysis: A sensitivity analysis for North Rhine-Westphalia

Decisions on large-scale infrastructure concepts are frequently based on cost benefit analysis (CBA). Using 431 road projects evaluated in the integrated transport planning process in North Rhine-Westphalia, Germany (IGVP NRW) this paper examines the evaluation dimensions traffic safety (fatalities) and travel time in private passenger transport. The unit values of traffic fatalities and travel time are varied, and the effects of the variations on the rank order of the projects are examined. Target conflicts between safety and travel time are studied as well as the contribution of these two dimensions to the total benefit values. The sensitivity analysis shows that the evaluation results are fairly stable against variations in unit values of travel time and fatalities. The relevance of traffic safety in terms of its contribution to total benefit as well as in terms of the unit value appears to be relatively minor. The unit value of travel time is higher than that of lifetime. Some projects turn out as feasible in the evaluation even though they are likely to increase the number of fatalities. The paper therefore suggests the higher weighting of traffic safety in CBA.     

Internet‐enabled Tourism Entrepreneurs. International Entrepreneurial Values Elicited through Repertory Test and Laddering Analysis

Although the tourism industry has been dramatically altered due to the Internet, there has been limited research published about international entrepreneurial values and Internet use in tourism firms. The findings of this study point to a relationship between the values of Internet‐enabled international entrepreneurs in small‐sized to medium‐sized enterprises and the inclination of the firm to develop and initiate international activity. The findings of this study suggest that Internet‐enabled tourism entrepreneurs share similar construct values. Two effective but underutilized qualitative methods were used in this study. The first method, repertory test, is an efficient technique for exploring constructs in decision making; the second method, laddering analysis, facilitates understanding of the perceived consequences and personal values guiding behaviour. Copyright © 2012 John Wiley & Sons, Ltd.     

Optimizing and assigning price levels for air traffic management

Pricing policies could encourage airline companies to modify departure times and routes of their flights in order to reach a route-slot allocation target that minimizes the en-route congestion. The problem of restricting the number of price levels and the assignment of one price level to each sector at each time period is studied using a simulation based on a Logit discrete choice model. In this model, an option is defined as the combination of a departure time and a route. For each flight, a utility is associated to each option and takes into account the flying cost, the cost of ground delay and the prices of crossed sectors. The optimization of the pricing policy considers average flows and minimizes the quadratic difference between desired and expected flows on each option. A heuristic algorithm that involves successive iterations of simulated annealing and gradient methods performs this optimization. The simulated annealing assigns a price level to each sector at each time period, and the gradient algorithm computes new values of price levels. The test of the method on constructed examples indicates that the use of only four price levels does not significantly deteriorate the performance of the system with respect to the use of independent prices.     

Consumer behaviour in tourism: Concepts,influences and opportunities

Although consumer behaviour (CB) is one of the most researched areas in the field of tourism, few extensive reviews of the body of knowledge in this area exist. This review article examines what we argue are the key concepts, external influences and opportune research contexts in contemporary tourism CB research. Using a narrative review, we examine the CB literature published in three major tourism journals from 2000 to 2012. Of 519 articles identified and reviewed, 191 are included in this article. We examine the development of and scope for future research on nine key concepts, including decision-making, values, motivations, self-concept and personality, expectations, attitudes, perceptions, satisfaction, trust and loyalty. We then examine three important external influences on tourism behaviour, technology, Generation Y and the rise in concern over ethical consumption. Finally, we identify and discuss five research contexts that represent major areas for future scholarship: group and joint decision-making, under-researched segments, cross-cultural issues in emerging markets, emotions and consumer misbehaviour. Our examination of key research gaps is concluded by arguing that the hedonic and affective aspects of CB research in tourism must be brought to bear on the wider CB and marketing literature.     

Socially desirable responding: the case of self-reported values in tourism surveys

This study explored associations between socially desirable responding and self-reported values in tourism surveys. Measures of egoistic values, altruistic values, and biospheric values were significantly associated with self-deception/assertion of positives, but neither with self-deception/denial of negatives nor with impression management. Researchers and marketers may take into account that self-reports of personal values could be distorted by tendencies for self-deception to some extent.     

Social Capital,Tourism and Regional Development: SPCC as a Basis for Innovation and Sustainability

Traditional views of regional development have focused on economic factors and potential innovation in technical and resource exploitation processes. Similarly, regional tourism development is usually couched in economic terms, such as number of jobs and increasing land values. This approach usually ignores the social and community aspects of tourism development; thus an alternative view argues that the community needs to be factored into our planning and development strategies to balance the traditional economic view. It is argued in this paper that fostering innovation in regional development is much more than a process of community consultation. Rather, what needs to be factored in is SPCC – social, political and cultural capital. This works in both directions; tourism development depends on a level of social, political and cultural capital in order to be a successful regional development tool (even in economic terms) while at the same time tourism development can be undertaken in a way that contributes to SPCC in the region. The paper outlines the key concepts of social capital, political capital and cultural capital. It does so within the context of regional tourism development and the concepts of systems of innovation and sustainable development.     

Charting the coast: spatial planning for tourism using public participation GIS

Coastal tourism continues to experience sustained growth on a global scale, leading to concerns regarding socio-cultural, economic and environmental impacts. To-date, the explicit integration of tourism development with coastal management has lagged behind more traditional planning concerns, presenting an opportunity and challenge for managers. Spatial planning using public participation geographical information systems (PPGIS) offers one solution for integration that is cognisant of the centrality of place in tourism. PPGIS was used to document spatially explicit data on place values, activities and development preferences along the remote, Aboriginal-managed Port Smith (Purnturrpurnturr) coastline in Western Australia. The research was developed and implemented as a collaborative partnership between Aboriginal custodians and University researchers. Ninety-seven questionnaires containing participatory mapping were conducted with residents and visitors. The participatory mapping approach successfully identified areas of potential conflict and allows tourism planners and managers to implement spatial planning that explicitly recognises and accounts for visitor values and preferences. Tourism, as well as marine spatial planning, can be enhanced by a holistic approach that considers both tangible and intangible socio-spatial data. Such an approach is likely to foster a more nuanced appreciation of what is valued in the landscape, providing greater insights to support sustainable long-term planning.     

Monetary values of freight transport quality attributes: A sample of Tanzanian firms

This paper presents the findings of a stated preference research conducted in Tanzania (East Africa). The objective of the survey was to determine the relative importance as well as monetary values attached to freight transport quality attribute by shippers in this region. In-depth interviews with the logistic managers of companies that produce and ship goods were conducted. The freight transport quality attributes considered in this survey were flexibility, frequency, loss and damage, reliability, and transit time. The monetary values of these attributes have been computed as willingness to pay for their improvement as well as willingness to accept compensation for a decrease in their quality. The results show that shippers in this region consider travel time, loss and damage and frequency as the most important quality attributes. This may have relevant implications for the infrastructural transport policies to be implemented in the country.     

Accessibility evaluation of land-use and transport strategies: review and research directions

A review of accessibility measures is presented for assessing the usability of these measures in evaluations of land-use and transport strategies and developments. Accessibility measures are reviewed using a broad range of relevant criteria, including theoretical basis, interpretability and communicability, and data requirements of the measures. Accessibility impacts of land-use and transport strategies are often evaluated using accessibility measures, which researchers and policy makers can easily operationalise and interpret, such as travelling speed, but which generally do not satisfy theoretical criteria. More complex and disaggregated accessibility measures, however, increase complexity and the effort for calculations and the difficulty of interpretation. The current practice can be much improved by operationalising more advanced location-based and utility-based accessibility measures that are still relatively easy to interpret for researchers and policy makers, and can be computed with state-of-the-practice data and/or land-use and transport models. Research directions towards theoretically more advanced accessibility measures point towards the inclusion of individual's spatial–temporal constraints and feedback mechanisms between accessibility, land-use and travel behaviour. Furthermore, there is a need for theoretical and empirical research on relationships between accessibility, option values and non-user benefits, and the measurement of different components of accessibility.     

Landscape,Memory and Heritage: New Year Celebrations at Angkor,Cambodia

This paper examines tourism, memory and notions of heritage at the World Heritage Site of Angkor, Cambodia. Rather than viewing heritage and social memory as abstract concepts, the paper explores domestic tourism at Angkor as the context within which Cambodia's recent history is re-articulated and made meaningful for a population recovering from decades of national turmoil. In exploring the various values and meanings associated with the national festival of Khmer New Year, the paper argues that an understanding of Angkor as a form of 'living heritage' remains neglected within a management framework which conceives the site as a form of material culture of the 'ancient' past. It is therefore suggested that exploring the values and meanings associated with Angkor's cultural heritage in this way provides valuable insight into the complex relationships of landscape, memory and identity.     

Airport infrastructure investments and valuing expansion decisions using the compound real option approach

This study examines the value and the best time period to expand the investment of an airport infrastructure project by operating a flight school, skydiving center and guesthouse on the airport using compound real options and net present value methods. The results demonstrate that real option value of the project is more optimistic than traditional valuation method and the best time for expansion investment is eighth year of the operation. Moreover, sensitivity analyses showed that, the strongest variables effecting the project are volatility and discount rate. The findings show how real option methods and sensitivity analysis can contribute to future decisions of the managers.     

The 4 A's of sustainable city distribution: Innovative solutions and challenges ahead

City distribution is considered to be unsustainable. Efforts to improve this condition are hindered by three challenges Local authorities implement restrictive measures, which do not fully take account of the interests of all stakeholders. sufficiently into account. As the demand for goods in urban areas increases further in the future, solutions are necessary. At the same time, many vehicles are inefficiently loaded, leading to the unnecessary presence of freight vehicles. In this paper, we propose a new classification of innovative concepts for sustainable city distribution called the 4 A's, which take into account these challenges. The 4 A's stand for Awareness, Avoidance, Act and shift, and Anticipation of new technologies. These concepts can be implemented by the one responsible for city distribution—the private sector. For each ‘A,’ an overview of possible concepts, and the most important characteristics and the gaps in the research are provided. Stakeholder involvement is stressed as the key and methods to involve multiple stakeholders are provided. By starting from this perspective and focusing additionally on other stakeholders, the likelihood that a concept becomes successful increases.     

Power,social exchanges and tourism in Langkawi: rethinking resident perceptions

A study was undertaken among the residents on Langkawi Island, Malaysia to explore the utility of a combination of social exchange and power theories to explain residents' attitudes toward tourism and to examine how residents' evaluation of the impact of tourism influences their attitudes. In‐depth, semi‐structured interviews were conducted with 46 residents. The study concludes that the combination of social exchange and power theories is more useful than social exchange theory alone in understanding residents' attitudes concerning the impact of tourism. However, residents' general values, dependence on tourism, and ability and willingness to adapt moderate the influence of power on residents' evaluation of the impact of tourism. Copyright © 2002 John Wiley & Sons, Ltd.