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Article
Publication date: 3 August 2015

Seungmin Nam, Sae-eun Park and Hong-Chul Shin

The purpose of this paper is to estimate an individual’s probability of preservation of the night view of Han-River bridge tax using the contingent valuation method (CVM…

Abstract

Purpose

The purpose of this paper is to estimate an individual’s probability of preservation of the night view of Han-River bridge tax using the contingent valuation method (CVM) and to present the effects of 4Es on experience economy theory.

Design/methodology/approach

The on-site survey was conducted in the 11 district Han-River parks: Gwangnaru, Jamsil, Ttukseom, Jamwon, Banpo, Yeechon, Yeouido, Mangwon, Nanji, Ganseo and Yanghwa district, including 24 bridges such as Banpo, Olympic bridge during 8-9 pm around the lighting and 9-10 pm peak time of lighting.

Findings

Truncated mean willingness-to-pay indicates that the economic value of the night view of Han-River bridge is 49,575 won (about USA $50) per household, which implies the significance of the preservation value of the night view.

Research limitations/implications

This study sets a hypothetical market, and there are limitations on hypothetical bias of the dichotomous choice CVM. For the future study, a survey with a specific real payment vehicle in an attempt to reduce hypothetical bias can be a tool for the prevention of the overestimation.

Practical implications

Through the study, Seoul city has to invest aggressively on the night view landscape business of Han-River bridge, which can become a landmark and has lots of attraction for tourists. As this study’s core aim was to justify the economic value of the night view of the Han-River bridges, the estimated amount strongly supports the lighting business of the Han-River bridge.

Originality/value

The results of this research may help policy-makers of Han-River to establish practical decisions as to whether improving and preserving the Han-River’s night view lighting business are worth the value.

Details

International Journal of Culture, Tourism and Hospitality Research, vol. 9 no. 3
Type: Research Article
ISSN: 1750-6182

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Book part
Publication date: 15 December 1998

Austin W. Smyth and R Jonathan Harron

The appropriateness of traditional travel models has recently been questioned on the grounds that behaviour change represents an ongoing process subject potentially to the…

Abstract

The appropriateness of traditional travel models has recently been questioned on the grounds that behaviour change represents an ongoing process subject potentially to the effect of new policy initiatives in the long term. The travel market is a dynamic function of change in lifecycle stage as well as underlying demographic, economic and level of service effects. Belfast has recently experienced the opening of two new rail projects. The decision to proceed with these projects was informed by two modelling exercises. The paper considers not only the models, forecasts and outturn travel behaviour change but the appropriateness of the models in the context of a dynamic market.

Details

Mathematics in Transport Planning and Control
Type: Book
ISBN: 978-0-08-043430-8

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Book part
Publication date: 29 November 2019

Richard E. Killblane

Abstract

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Delivering Victory
Type: Book
ISBN: 978-1-78754-603-5

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Article
Publication date: 1 December 2020

Atif Saleem Butt and Syed Hamad Hassan Shah

This paper explores the potential opportunities and challenges that Belt and Road Initiative (BRI) may bring for resilient supply chains.

Abstract

Purpose

This paper explores the potential opportunities and challenges that Belt and Road Initiative (BRI) may bring for resilient supply chains.

Design/methodology/approach

This study employs multiple case study methodology by considering five south Asian countries. Overall, 36 semi-structured interviews with supply chain managers from three supplying firms, two transportation centers and four buying firms are undertaken. Three supplying firms were based in Pakistan, providing cement and steel products. Simultaneously, two transportation centers were located in Sri Lanka and Bangladesh, mainly engaged in cargo and freight handling. Finally, the buying firms were located in Mainland China and India, mainly constructing road and rail networks.

Findings

Our findings reveal both challenges and opportunities for supply chain resilience within the context of BRI. In particular, findings suggest that BRI can improve quality infrastructure, greater connectivity for logistics firms and enhance consumer markets. Conversely, BRI also poses challenges to supply chain resilience in managing large-scale logistics infrastructure and the potential conflicts between countries participating in BRI.

Research limitations/implications

As this study attempts to build a theory, its result should not be generalized to a broader population. Second, this study only explores BRI's implications for resilient supply chains within five South Asian countries.

Practical implications

Firms can use our study results to understand BRI’s implications for resilient supply chains. Particularly, it presents firms with the potential opportunities and challenges that BRI brings for resilient supply chains.

Originality/value

BRI has been the subject of much research in domains like political science, economics and law but its application to the supply chain resilience is rather scant. Our study, therefore, contributes to the emergent literature on supply chain resilience within the context of BRI by exploring its potential opportunities and challenges.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

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Abstract

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Megaproject Risk Analysis and Simulation
Type: Book
ISBN: 978-1-78635-830-1

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Article
Publication date: 1 June 1982

Gordon Wills and Angela Rushton

Since 1975, physical distribution management in the UK has developed rapidly. Indicative of this is the move by the Centre for Physical Distribution Management (CPDM) to…

Abstract

Since 1975, physical distribution management in the UK has developed rapidly. Indicative of this is the move by the Centre for Physical Distribution Management (CPDM) to take individual professional members as well as corporate sponsors and the support given to the seminars, conferences and courses run by CPDM and other organisations including, of course, Cranfield.

Details

International Journal of Physical Distribution & Materials Management, vol. 12 no. 6
Type: Research Article
ISSN: 0269-8218

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Expert briefing
Publication date: 11 September 2017

The controversial plan for a ship canal bypassing the Bosphorus.

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Article
Publication date: 1 January 1997

DAVID SEYMOUR, MAZIN SHAMMAS‐TOMA and LESLIE CLARK

The paper reports an empirical study designed to establish the extent to which adequate concrete cover to reinforcement in a sample of structures was achieved. It was…

Abstract

The paper reports an empirical study designed to establish the extent to which adequate concrete cover to reinforcement in a sample of structures was achieved. It was found that the standards fell significantly short of those specified. Two kinds of explanation are considered to account for these findings. The first accepts as given the existing divisions of responsibility and conventions for specifying quality and looks to identify the reasons for non‐compliance. The second proposes that the present arrangements and conventions are inappropriate to the conditions of variability and uncertainty standardly met with in construction. On the basis of this second set of assumptions, an alternative approach, using the concept of continuous quality improvement, is described and discussed.

Details

Engineering, Construction and Architectural Management, vol. 4 no. 1
Type: Research Article
ISSN: 0969-9988

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Book part
Publication date: 7 October 2015

Abstract

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Chinese Railways in the Era of High-Speed
Type: Book
ISBN: 978-1-78441-984-4

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Article
Publication date: 1 August 2005

S. C. Wamuziri and A. G. F. Clearie

The existing Forth Road Bridge near Edinburgh in Scotland at present carries 24 million vehicles annually, which is twice its design capacity. The need for a second Forth…

Abstract

The existing Forth Road Bridge near Edinburgh in Scotland at present carries 24 million vehicles annually, which is twice its design capacity. The need for a second Forth Road Bridge is discussed in this paper. There is currently a proposal for design and construction of the second Forth Road Bridge crossing. Some organisations are in favour of the project and yet others are against it. If the project were sanctioned, it would be private sector funded under the government’s PFI/PPP programme. This paper provides an economic evaluation of the proposed second Forth Road Bridge crossing. Firstly, a review of studies carried out on the traffic characteristics across the Forth is provided. Secondly, a critical analysis of the economic tools and techniques available for cost‐benefit analysis is given. The concept of cost of capital for government projects is also discussed and distinguished from cost of borrowing. The paper then provides present values of expected revenues from toll charges supported by extensive sensitivity studies for various assumptions regarding changes in toll levels, concession periods, future traffic growth levels and cost of capital. The main conclusions of the study are that the scheme is economically viable subject to the following limitations. If only Northbound traffic is tolled, this would require quadrupling of the current toll levels for the expected revenues to be adequate to fund design, construction and maintenance costs of a second standard bridge crossing and approach roads over a 30‐year concession period. If both Northbound and Southbound traffic were tolled, the present toll levels would need to be doubled on award of the concession contract and increased annually by the Retail Price Index (RPI) for the scheme to be economically viable. If the new crossing is to include the possibility of a heavy rail link under the dual carriage way, the expected present values of toll revenues provided they are increased as suggested above would be adequate only to fund design and construction costs of the new crossing and maintenance of both bridges. The project as whole would only be economically viable if the public sector funded the design, construction and maintenance costs of the required tunnels and approach roads.

Details

Journal of Financial Management of Property and Construction, vol. 10 no. 2
Type: Research Article
ISSN: 1366-4387

Keywords

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