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Early studies projected potential societal, economic and environmental benefits by the widespread deployment of Autonomous and Connected Transport (ACT) promising a significant reduction of transport costs and improvement in road safety. An effective way of assessing ACT impact is via simulations, where results are largely affected by the scenarios defining the ACT development. However, modelled scenarios are very diverse due to the huge uncertainty in ACT development and deployment. This chapter aims to shed light on the different ACT simulation scenarios and sustainability aspects that should be considered while developing or reporting the simulation results. To this end, this chapter discusses the various simulation approaches, what the required (or the typically utilised) pipelines are, and how some components are more important or less important than in ‘classic’ modelling and simulation approaches. Special focus is dedicated to the uncertainty related to ACT operational parameters and how these will impact transport modelling. To address said uncertainty, an analysis of current approaches to scenario building is provided, as the chapter guides the reader through different methodologies and clusters them in relation to the desired indicators. Finally, the chapter identifies and proposes Key Performance Indicators (KPIs) that are useful when applying simulation tools to assess ACT scenarios. These KPIs can be used for simulation scenario development to test particular sustainability aspects of ACT deployment and relevant policies.

Focusing on the spillover effects between the CSI 500 stock index futures market and its underlying spot market during April to September 2015, the purpose of this paper is to explore whether Chinese stock index futures should be responsible for the 2015 stock market crash.

Using both linear and non-linear econometric models, this paper empirically examines the mean spillover and the volatility spillover between the CSI 500 stock index futures market and the underlying spot market.

The results showed the following: the CSI 500 stock index futures market has significant one-way mean spillover effect on its spot market. The volatility in CSI 500 stock index futures market also has a significant positive spillover effect on its spot stock market, and the mean value of dynamic correlation coefficient between the two market volatility is 0.4848. The spillover effect of the CSI 500 stock index futures market on the underlying spot market is significantly asymmetric, characterized by relatively moderate and slow during the period of the markets rising, yet violent and rapid during the period of the markets falling. The findings suggest that although the stock index futures itself was not the “culprit” of Chinese stock market crash in 2015, its existence indeed accelerated and exacerbated the stock market’s decline under the imperfect trading system.

Different from the existing literature mainly focusing on CSI 300 stock index futures, this paper empirically examines the impact of the introduction of CSI 500 stock index futures on 2015 Chinese stock market crash for the first time.