Glenn D. Westley

The Demand for Urban Rail Transportation

Abstract Work-trip demand is studied for Philadelphias prototypical Linden-wold High Speed Line. A novel variation of the logit function is found to provide overall the best explanation of observed demand patterns. Significant explanatory variables are discussed, with special attention devoted to price and time variables. Relevant econometric issues, including nonnested equation choice, are explored and results reported.

Five ways to ration capital: The case of a developing economy

Abstract The performances of two programming models and three “simple” investment rules, the benefit-cost ratio, internal rate of return, and present value to constrained cost ratio, are compared in solving a four-year capital rationing problem in a Latin American nation. The properties and advantages of the various approaches are discussed and policy conclusions are drawn. In addition, the effects of including project timing variants and political/ bureaucratic constraints are explored.