Quantifying a Financially Sustainable Strategy of Public Transport: Private Capital Investment Considering Passenger Value

Xue, Yunqiang; Guan, Hongzhi; Corey, Jonathan; Wei, Heng; Yan, Hai

doi:10.3390/su9020269

Cited by 24 publications

(23 citation statements)

References 52 publications

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“…A recent paper by Xue [2,3] proposed a passenger value investment model in public transport. Passenger value has two meanings in public transport systems: for passengers, it means travel service supplied to passengers by public transport operators; and, in the other aspect, it means the benefits brought to public transport operators by passengers, including cash flow income of passengers' public transport card balance, the fare income, and the ad revenue.…”

Section: Passenger Value Investment Model In Public Transportmentioning

confidence: 99%

“…Passengers of public transport form a very large customer base which can produce value besides ticket fares. The purpose of the passenger value investment model is to increase the public transport system welfare [2,3]. The welfares of the public transport system contain all the groups' surpluses in public transport system.…”

Section: Passenger Value Investment Model In Public Transportmentioning

confidence: 99%

“…Cash flow benefits in passengers' account and returns to passengers are specific variables of the passenger value private capital investment model in public transport. The passenger value investment model [2,3] allows private capital to benefit from cash flow in passengers' account via investment, which has a higher benefit ratio than bank interest. Since, in many developed countries (e.g., USA), there is no current interest and the current bank interest of a bank account is about 0.3-0.35% in China, the profit rate of successful investment is usually higher than 6% which is obviously higher than the rate of bank interest [2,3].…”

Section: System Structure and Causalities Of Private Capital Investmementioning

confidence: 99%

“…However, to keep the ticket prices at low levels, subsidies are usually needed for a public transport system. Therefore, governments at all levels have to face the problem of maintaining service quality based on limited financial resources and keeping transit fares at low levels [2,3]. Fortunately, private capital provides an alternative solution to the problem due to its financial support, efficiency, and technology advances [4].…”

Section: Introductionmentioning

confidence: 99%

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Transport Emissions and Energy Consumption Impacts of Private Capital Investment in Public Transport

et al. 2017

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Abstract:Introducing private capital into the public transport system for its sustainable development has been increasing around the world. However, previous research ignores emissions and energy consumption impacts, which are important for private capital investment policy-making. To address this problem, the system dynamic (SD) approach was used to quantitatively analyze the cumulative effects of different private capital investment models in public transport from the environmental perspective. The SD model validity was verified in the case study of Jinan public traffic. Simulation results show that the fuel consumption and emission reductions are obvious when the private capital considering passenger value invests in public transport compared with the no private capital investment and traditional investment models. There are obvious cumulative reductions for fuel consumption, CO 2 , CO, SO 2 , and PM10 emissions for 100 months compared with no private capital investment. This research verifies the superiority of the passenger value investment model in public transport from the environmental point of view, and supplies a theoretical tool for administrators to evaluate the private capital investment effects systematically.

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Section: Passenger Value Investment Model In Public Transportmentioning

confidence: 99%

Section: Passenger Value Investment Model In Public Transportmentioning

confidence: 99%

Section: System Structure and Causalities Of Private Capital Investmementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Transport Emissions and Energy Consumption Impacts of Private Capital Investment in Public Transport

et al. 2017

Self Cite

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“…The travel mode choice is a complex decision-making procedure, which is affected by many factors, such as passengers' individual characteristics, travel characteristics, and service level of different bus routes, and passengers may choose different travel modes under different situations [26]. It is a kind of commodity consumption and the travel mode choice behavior is essentially a consumer's choice behavior [27].…”

Section: Influence Factor and Preference Analysismentioning

confidence: 99%

Research on Passenger’s Travel Mode Choice Behavior Waiting at Bus Station Based on SEM-Logit Integration Model

Han

Wei

et al. 2018

Sustainability

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Abstract:To improve the mode share of public transport and reduce the transition to private transport of passengers waiting at bus station, the mechanism of passengers' decision-making procedure and influence factors of the travel mode choice were analyzed. Some latent variables such as safety, comfort, convenience, flexibility and economy were selected to reflect the satisfaction degree of passengers on the service level of public transport. Taking Jinan City as an example, the questionnaire of passengers' travel choice behavior at bus station was designed and carried out. Based on the structure equation model (SEM), the relationship between the satisfaction degree and some latent variables such as safety and comfort was discussed. The SEM method analysis shows that, of the influence level of the latent variables to the service level of public transport, flexibility is the most significant variable affecting passenger's satisfaction degree followed by safety, convenience, comfort and economy. Travel mode choice model of passengers waiting at bus station was established with an integration approach of SEM and nested logit (NL) model. The SEM-NL integration model results reveal that gender, monthly income, purpose of the trip, travel distance, safety and convenience service level have a significant effect on the choice of the upper model (public transport or private transport). Passenger's age, vehicle ownership and bus ride frequency have great influence on the choice of the lower mode (ORB: original route bus; ARB: alternative route bus; Taxi; and Shared bike). Sensitivity analysis reveals that the transition probabilities from private transport to public transport can reach the highest point (respectively, 69.85%, 68.84% and 35.51%) when safety service reaches level 4, convenience service reaches level 3, or comfort service reaches level 2, indicating that the safety level equal to 4, convenience level equal to 3 and comfort level equal to 2 are the key threshold to increase the public transport mode share. Some proposals such as ensuring good accessibility of public transport, shortening the transfer distance of different routes, creating a comfortable travel environment and integrating bus ticket system have been put forward for the sustainable development of public transport system.

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Analysis of an optimal public transport structure under a carbon emission constraint: a case study in Shanghai, China

Zhang

Long

Chen

et al. 2017

Environ Sci Pollut Res

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Along with the rapid development of the transportation industry, the problems of the energy crisis and transport emissions have become increasingly serious. The success of traffic emission reduction is related to the realization of global low-carbon goals. Placing priority on public transport is the internationally recognized traffic development model. This paper takes Shanghai, China, as an example to examine the optimal public transport structure. Five factors were selected from personal and public perspectives, including travel costs, crowding degree, occupied area, traffic emissions, and operating subsidies. The objective functions of these factors were transformed into satisfaction functions, and a multi-objective programming model was used to solve for the optimal proportions of the ground bus and rail transit, and the carbon emission reduction potential was analyzed in different scenarios. The study showed that the actual proportion of rail transit in Shanghai was slightly lower than the optimal value, and accompanied by low satisfaction with each factor relative to the optimal value. It was difficult to achieve the traffic emission reduction targets by only reducing satisfaction with other factors except carbon emissions assuming a fixed proportion of public transport. As the proportion of total travel represented by public transport increased, rail transit became the main mode of public transport and the usage trend was more obvious, but the structure of public transport gradually reached a relatively stable state after a certain level of development. Compared to reducing carbon emissions by changing satisfaction with other factors, it was easier to achieve traffic emission reduction targets by increasing the proportion of public transport. To increase the proportion of public transport travel and achieve the goal of traffic reduction in the future, further improvements are needed in the quality of public transport system services, public transport priority development must be differentiated, and the profitability of the public transport industry itself must be enhanced.

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Quantifying a Financially Sustainable Strategy of Public Transport: Private Capital Investment Considering Passenger Value

Cited by 24 publications

References 52 publications

Transport Emissions and Energy Consumption Impacts of Private Capital Investment in Public Transport

Transport Emissions and Energy Consumption Impacts of Private Capital Investment in Public Transport

Research on Passenger’s Travel Mode Choice Behavior Waiting at Bus Station Based on SEM-Logit Integration Model

Analysis of an optimal public transport structure under a carbon emission constraint: a case study in Shanghai, China

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