Economics and Finance

Shared Mobility Policies for California

Shaheen, Susan, PhD
Cohen, Adam
2018

In recent years, economic, environmental, and social forces have quickly given rise to the “sharing economy,” a collective of entrepreneurs and consumers leveraging technology to share resources, save money, and generate capital. Shared mobility—the shared use of a vehicle, bicycle, or other low-speed travel mode—is an innovative transportation strategy that enables users to have short-term access to a transportation mode on an as-needed basis. Business-to-consumer services, such as Zipcar and car2go, and peer-to-peer carsharing and shared ride services, such as Getaround, Turo, Lyft, and...

From Elevated Freeway to Linear Park: Land Price Impacts of Seoul, Korea's CGC Project

Kang, Chang Deok
Cervero, Robert
2008

Freeways and other high-performance roadway investments have long been considered vital to the economic well-being of metropolitan areas. Empirical research shows that limited-access, grade-separated freeway systems increase a region’s economic productivity by lowering transportation costs, a factor input to economic production (Aschauer, 1990; Boarnet, 1997). Past studies also reveal that urban land markets capitalize the benefit of proximity to freeway interchanges, especially for non-residential uses and in areas experiencing worsening traffic conditions (Gillen, 1996; Boarnet, 1997;...

Urban Development on Railway-Served Land: Lessons and Opportunities for the Developing World

Cervero, Robert
2020

Under the right conditions -- serious traffic congestion, a permissive regulatory environment, and frequent and reliable transit services -- rail transit investments can powerfully shape cities and regions. Rail transit’s city‐shaping powers are due to market forces and policy interventions. By enhancing accessibility (the ability of those living, working, or shopping rail near stops to quickly reach desired destinations) rail services increase the value and desirability of properties in and around stations. Market pressures by themselves rarely produce transit oriented development. To...

Rail + Property Development: A model of sustainable transit finance and urbanism

Cervero, Robert
Murakami, Jin
2008

Hong Kong has aggressively pursued transit value capture to finance railway infrastructure through its “Rail + Property” development program, or R+P. More than half of all revenues received by the MTR Corporation, the owner-operator of Hong Kong’s largest railway network, come from property development. A wide variety of R+P projects presently exist in Hong Kong. Most focus on housing development though all have some degree of commercial development. Recent generation R+P projects have placed a stronger premium on urban design and quality of pedestrian environments. This has generally paid...

On the Design of Public Infrastructure Systems with Elastic Demand

Daganzo, Carlos F.
2012

This paper considers the optimization of public infrastructure systems, recognizing that these systems serve multiple user classes. Under the guidance of a policy-making body, the analyst chooses both the system design, including its layout and control, and the prices to be charged for the service. The goal of the optimization is to maximize society's welfare recognizing that the system's performance will in general depend on the system's demand, and vice versa. The optimization problem is first formulated in its full complexity. Under defined circumstances, the problem decomposes into...

A Review of Green Logistics Schemes Used in Cities Around the World

Geroliminis, Nikolaos
Daganzo, Carlos F.
2005

Freight carriers strive to provide higher levels of transportation service with lower costs. However, the economic and environmental viability of cities are negatively affected by the present organization of urban goods distribution. Can these two competitive goals be harmonised to create efficient and environmentally friendly urban logistics systems? This paper presents several examples of “green logistics” schemes tried in a number of forward-looking cities around the world. The review highlights the basic qualitative ideas of these schemes and the results of field tests. Most of the...

Bus Rapid Transit Impacts on Land Uses and Land Values in Seoul, Korea

Cervero, Robert
Kang, Chang Deok
2009

More and more cities are turning to Bus Rapid Transit (BRT) as a way of cost-effectively expanding public transit services to help relieve traffic congestion, reduce carbon emissions, and increase mobility options for the poor. Because of the inherent flexibility advantages of rubber-tire buses – e.g., unlike rail systems, the same vehicle that functions as a line-haul carrier can also morph into a neighborhood feeder -- BRT is especially suited for many lower density and non- CBD settings.Some of the most advanced and widely heralded BRT services today are found in Latin America, such as...

Urban Densities and Transit: A Multi-dimensional Perspective

Cervero, Robert
Guerra, Erick
2011

This paper investigates the relationship between transit and urban densities in the United States. An analysis of light rail systems finds that a residential density of about 30 people per gross acre near stations is needed to in order to make them among the top 25 percent of rail transit investments in terms of cost effectiveness; for heavy rail systems, the density is 45 people per gross acre. Increasing density around stations would greatly increase ridership, particularly when jobs are located within one-quarter mile of the stations and housing is located within one-half mile....

Accessible Cities and Regions: A Framework for Sustainable Transport and Urbanism in the 21st Century

Cervero, Robert
2005

This paper examines both the principle and analytical possibilities of accessibility as a platform for advancing sustainable transport and urbanism in coming years and decades. Experiences with accessibility planning are first reviewed, followed by a discussion of various measurement and analytical contexts. The paper then uses various policy contexts and case settings to probe the use of accessibility for addressing contemporary urban and regional transportation and land-use themes, including: inter-modal comparisons of job accessibility and their implications for social equity and...

Morning Commute with Competing Modes and DistributedDemand: User Equilibrium, System Optimum, and Pricing

Gonzales, Eric J.
Daganzo, Carlos F.
2011

The morning commute problem for a single bottleneck is extended to model mode choice in an urban area with time-dependent demand. This extension recognizes that street space is shared by cars and public transit. It is assumed that transit is operated independently of traffic conditions, and that when it is operated it consumes a fixed amount of space. As a first step, a single fixed-capacity bottleneck that can serve both cars and transit is studied. Commuters choose which mode to use and when to travel in order to minimize the generalized cost of their own trip. The transit agency chooses...