Minimizing Investment Risk of Integrated Rail and Transit-Oriented-Development Projects over Years in a Linear Monocentric City
Rail and transit-oriented-development (TOD) projects are simultaneously optimized in this paper, with special consideration given to yearly variation and spatial and temporal correlation of population densities. In the proposed model, the objective is to minimize the investment risk of integrated ra...
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| Format: | Article |
| Language: | English |
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Wiley
2016-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2016/1840673 |
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| author | Ding Liu Xi Jiang Lingyun Meng Ying-En (Ethan) Ge |
| author_facet | Ding Liu Xi Jiang Lingyun Meng Ying-En (Ethan) Ge |
| author_sort | Ding Liu |
| collection | DOAJ |
| description | Rail and transit-oriented-development (TOD) projects are simultaneously optimized in this paper, with special consideration given to yearly variation and spatial and temporal correlation of population densities. In the proposed model, the objective is to minimize the investment risk of integrated rail and TOD projects with a given required expected return on investment. The investment risk is optimized based on closed-form solutions of the design variables, including rail line length, the number of TOD projects, and the number of housing units in each TOD project. The closed-form solutions are given explicitly under the assumption of social welfare maximization. It is found that underestimation exists for rail and TOD projects without consideration of the correlation of spatial and temporal population densities. TOD projects can greatly improve the return on investment of the rail operator. A numerical example is also presented. |
| format | Article |
| id | doaj-art-115fb65189c745178d0f89a132de0b83 |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2016-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-115fb65189c745178d0f89a132de0b832025-02-03T01:24:15ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2016-01-01201610.1155/2016/18406731840673Minimizing Investment Risk of Integrated Rail and Transit-Oriented-Development Projects over Years in a Linear Monocentric CityDing Liu0Xi Jiang1Lingyun Meng2Ying-En (Ethan) Ge3College of Transport & Communications, Shanghai Maritime University, Shanghai 201306, ChinaState Key Laboratory of Rail Traffic Control and Safety, Beijing Jiaotong University, Beijing 100044, ChinaState Key Laboratory of Rail Traffic Control and Safety, Beijing Jiaotong University, Beijing 100044, ChinaCollege of Transport & Communications, Shanghai Maritime University, Shanghai 201306, ChinaRail and transit-oriented-development (TOD) projects are simultaneously optimized in this paper, with special consideration given to yearly variation and spatial and temporal correlation of population densities. In the proposed model, the objective is to minimize the investment risk of integrated rail and TOD projects with a given required expected return on investment. The investment risk is optimized based on closed-form solutions of the design variables, including rail line length, the number of TOD projects, and the number of housing units in each TOD project. The closed-form solutions are given explicitly under the assumption of social welfare maximization. It is found that underestimation exists for rail and TOD projects without consideration of the correlation of spatial and temporal population densities. TOD projects can greatly improve the return on investment of the rail operator. A numerical example is also presented.http://dx.doi.org/10.1155/2016/1840673 |
| spellingShingle | Ding Liu Xi Jiang Lingyun Meng Ying-En (Ethan) Ge Minimizing Investment Risk of Integrated Rail and Transit-Oriented-Development Projects over Years in a Linear Monocentric City Discrete Dynamics in Nature and Society |
| title | Minimizing Investment Risk of Integrated Rail and Transit-Oriented-Development Projects over Years in a Linear Monocentric City |
| title_full | Minimizing Investment Risk of Integrated Rail and Transit-Oriented-Development Projects over Years in a Linear Monocentric City |
| title_fullStr | Minimizing Investment Risk of Integrated Rail and Transit-Oriented-Development Projects over Years in a Linear Monocentric City |
| title_full_unstemmed | Minimizing Investment Risk of Integrated Rail and Transit-Oriented-Development Projects over Years in a Linear Monocentric City |
| title_short | Minimizing Investment Risk of Integrated Rail and Transit-Oriented-Development Projects over Years in a Linear Monocentric City |
| title_sort | minimizing investment risk of integrated rail and transit oriented development projects over years in a linear monocentric city |
| url | http://dx.doi.org/10.1155/2016/1840673 |
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