Search

We analyze banks’ “protected-weekend” policies that restrict junior bankers from working during weekends. We use taxi rides from bank addresses in New York City to infer bankers’ working hours. We find the policies induced bankers to shift their work to late-night hours on weekdays. We then investigate whether such shifts in working hours affected the quality of work. After the policy, analysts of the policy-implementing banks make more errors in their earnings forecasts. They also herd more toward the consensus in their forecasts. We further provide evidence that junior bankers are the most adversely affected by the policy. This paper was accepted by Victoria Ivashina, finance. Supplemental Material: The data files and online appendix are available at https://doi.org/10.1287/mnsc.2023.4774 .

Traffic congestion is one of the most challenging issues of urban agglomeration. Congestion costs are often higher than their socially optimal levels, and little is known about the key parameters needed to design optimal congestion policies. This paper addresses this issue by exploiting an exogenous reduction in for-hire vehicle supply in New York City. I estimate the effect of a vehicle on congestion and document substitution patterns to other transportation modes. A 9.1 percent reduction in the number of active vehicles decreases congestion by 0.46 minutes per mile. As vehicles leave the streets, for-hire trips decrease, resulting in increased waiting times and people switching to other transportation modes. Welfare increases for those who travel by vehicle because travel time is reduced. However, welfare decreases for those who face increased wait times or switch to a less-preferred transportation mode. A calibration exercise suggests daily net welfare gains between $0.5 and $1.0 million.

The first-mile service (FMS) refers to the modal choice for the first part of a commuting journey. A well-designed FMS can provide a seamless travel to access public transport services. This research was driven by the efficiency of different travel modes (e.g. taxi, shared bike, bus) in the FMS. Based on realistic travel experience, an expected utility model for each travel mode was developed. Then, a framework based on evolutionary game theory was designed to deal with the issue of passengers’ dynamic interactions during the FMS. Both infinite- and finite-population scenarios were considered. The simulation results showed that walking is the first choice for passengers in comfortable weather and taking a taxi is the first choice in adverse weather. After the implementation of effective strategies, passengers’ travel efficiency increases simultaneously. As such, effective strategies such as shared electric bikes, customised buses and taxi-sharing behaviour are encouraged in FMS planning.

“First-last mile” (FLM) is an informal composed-word, widely used to indicate the first and the last leg of each transport movement. In this paper, it is defined as a complex system characterized by three interconnected macro factors that determine the success of a transport planning system. This is a very challenging part of the transport system from a planning perspective because of the critical issues that make it not much reliable and cost-effective. This paper capitalizes on the experiences gained in different implementations/studies and provides a theoretical framework for a good assessment and planning of the first-last mile. It stems from the recognition that the literature proposes different solutions and methods, ranging from the promotion of green transport to the use of ITS technologies. For this reason, this paper aims at elaborating some guidelines on how to tackle the problem in different territorial contexts, trying to be a help to the planners to reduce the negative consequences of mobility. Five main phases are identified here: 1) First-last mile identification; 2) Schematization of the problem and cost analysis; 3) Definition of the stakeholder involvement in the process; 4) Identification of the critical aspects of the process; 5) Identification of the best strategies to reduce costs. For each phase, the indicators to be taken into account for a correct transport planning are discussed, as a first step for stakeholders and policy-makers for making themselves aware of the significant potential of this issue.

On-demand transit system designs are explored for the first-mile commuting in Markham, a suburb in the Greater Toronto Area (GTA). Operational scenarios are analysed using different types of on-demand solutions that can complement the existing GO Transit commuter train system. Various use cases of demand-responsive vehicles are explored in terms of vehicle capacity and fleet-size. It is assumed that the existing car-based trips to the four train stations in Markham would be replaced by an on-demand rideshare transit system. The on-demand transit system is simulated using the PTV MaaS Modeller in combination with a mesoscopic simulation, involving 1,865 trip requests within the morning peak from 7AM to 10AM. Wait-time, travel time, demand served, cost, and environmental impact are used as indicators to rate various options. Evaluating the results we came to the conclusion that three cases using vans are providing favourable outcomes. The van-based scenario using 75% of an optimal fleet size and a low detour factor turned out to be very appropriate with regard to the case study. A passenger in this scenario would at an average spend 3 min waiting for the service to arrive and 10 min in the vehicle, costing 7CAD for the ride. With a typical level of public transit subsidies applied, a 7% monthly saving is expected compared to using a private car and paying for parking fees. The scenario also results in 30% reduction in greenhouse gas emissions when compared to current personal vehicle based trips. Based on the simulation, policy suggestions for implementing the on-demand transit in Markham are presented.

The enteric nervous system, which regulates many gastrointestinal functions, is derived from neural crest cells (NCCs). Defective NCC migration during embryonic development may lead to enteric neuropathies such as Hirschsprung's disease (hindgut aganglionosis). Sox10 is known to be essential for cell migration but downstream molecular events regulating early NCC migration have not been fully elucidated. This study aimed to determine how Sox10 regulates migration of sacral NCCs toward the hindgut using Dominant megacolon mice, an animal model of Hirschsprung's disease with a Sox10 mutation.We used the following: time-lapse live cell imaging to determine the migration defects of mutant sacral NCCs; genome-wide microarrays, site-directed mutagenesis, and whole embryo culture to identify Sox10 targets; and liquid chromatography and tandem mass spectrometry to ascertain downstream effectors of Sox10.Sacral NCCs exhibited retarded migration to the distal hindgut in Sox10-null embryos with simultaneous down-regulated expression of cadherin-19 (Cdh19). Sox10 was found to bind directly to the Cdh19 promoter. Cdh19 knockdown resulted in retarded sacral NCC migration in vitro and ex vivo, whereas re-expression of Cdh19 partially rescued the retarded migration of mutant sacral NCCs in vitro. Cdh19 formed cadherin-catenin complexes, which then bound to filamentous actin of the cytoskeleton during cell migration.Cdh19 is a direct target of Sox10 during early sacral NCC migration toward the hindgut and forms cadherin-catenin complexes which interact with the cytoskeleton in migrating cells. Elucidation of this novel molecular pathway helps to provide insights into the pathogenesis of enteric nervous system developmental defects.

El presente trabajo de grado expone un plan de negocio para la creación de una empresa dedicada a la logística y comercialización de pistas móviles de ¼ de milla, mostrando posibilidades de esparcimiento en el mundo motor en un ambiente seguro y de alta calidad. Este tipo de eventos es viable en todo el país, iniciando en la ciudad de Bogotá D.C y sus alrededores, teniendo en cuenta los análisis elaborados en el estudio de mercado, donde se muestra un margen amplio de demanda de estos eventos en la capital del país, con posibilidades de expansión según sus resultados. Es necesario aclarar que este proyecto de grado se realizó en condiciones de pandemia, durante el virus COVID-19, lo cual implicó cambios en la tipología y diversificación en los eventos requeridos para la bioseguridad del cliente. También se realizó un estudio para determinar las necesidades de los clientes potenciales, siendo este un aporte al conocimiento del mercado de las empresas dedicadas a los eventos de ¼ de milla en Colombia. Así, el presente proyecto comprende: el estudio de mercado, el estudio técnico, el estudio administrativo-legal y el apartado económico de la empresa, junto con sus márgenes de ganancias evidenciadas en el estudio financiero. The aim of this project is establish a company dedicated to the logistics and merchandising of mobiles ¼ mile tracks, dislaying possibilities of recreation in the motor world, with a secure environment and high quality. These type of events are accessible throughout the country, but initially is focus on Bogotá city and its surroundings. Is important to say that this degree work has been made in pandemic conditions due to covid-19 virus, which generates changes in the typology and diversification in the events required by the client and his biosecurity. Likewise, an arduous and efficient study was carried out to determine the needs of potential clients. Thereby benefiting the knowledge and improving the lack of places and/ or companies dedicated to ¼ mile events in Colombia. Withal, this proyect comprise: the economic study, the technical study, the administrative-legal study and the economic section of the Company, also its profit and loss margins are shown under the financial study. Ingeniero Mecánico Pregrado

Parcel lockers and collection and delivery points are not new concepts and are recognized by many firms; however, they are not broadly utilized worldwide. The employment of this concept can provide a solution to failed deliveries. In this study, parcel lockers and similar concepts are reviewed quantitatively and analytically. Parcel lockers have been widely studied; however, quantitative approaches are lacking. Therefore, mathematical models, spatial analysis, optimization, and simulation studies on location and routing problems have been extensively examined. This study aims to indicate the current state and future directions. After a rigorous elimination process in the Scopus database, 72 papers were reviewed, and descriptive, bibliometric, and content analyses were performed. This study shows that parcel lockers and collection and delivery points offer various advantages as solutions to last-mile delivery problems, such as regulating traffic congestion, reducing faulty deliveries and the resulting costs, and increasing consolidation.

The steadily growing share of air freight transport in the entire logistics industry is mainly due to the three major advantages of speed, safety and reliability. In order to meet increasing demands, more and more automated transport and delivery processes are used. As part of the DLR (German Aerospace Center) research project Automated Low Altitude Delivery (ALAADy), a fully automated Unmanned Cargo Aircraft (UCA) with a payload of one ton is being developed in cooperation with eight DLR institutes. As a general area of application, the UCA is responsible for the so-called “penultimate mile” in the air freight logistics chain. In order to achieve an optimal integration of a UCA into the freight supply chain, this research focuses on ground handling and in particular on the loading and unloading processes. The theoretical and practical concepts of the integration of UCA were examined within this research under the premise that no infrastructure exists at the destination in order to obtain the most automated process possible for future logistics. The research shows that the interaction between a UCA and an automated robot container system can solve both problems of the “last mile” and the “penultimate mile” within the logistics chain.

Shared automated vehicles (SAVs) have the potential to promote transit ridership by providing efficient first-mile last-mile (FMLM) connections through reduced operational costs to fleet providers and lower out-of-pocket costs to riders. To help plan for a future of integrated mobility, this paper investigates the impacts of SAVs serving FMLM connections, as a mode that provides flexibility in access/egress decisions and is well coordinated with train station schedules. To achieve this objective, a novel dynamic pooling algorithm was introduced to match SAVs with riders while coordinating the riders' arrival times at the light-rail station to a known train schedule. Microsimulations of SAVs and travelers throughout two central Austin neighborhoods show how larger service areas, higher levels of SAV demand, and longer arrival times between successive trains require larger SAV fleet sizes and higher SAV utilization rates to deliver close traveler wait times. Four-person SAVs appear to perform similar to 6-seat SAVs but will cost less to provide. Using a dynamic pooling algorithm tightly coordinated with train arrivals (every 15 min) delivers 87% of travelers to their stations in time to catch the next train, while uncoordinated assignments deliver just 58% of travelers in time.

While fuel cell electric vehicles (FCEVs) fueled by hydrogen produced using low-carbon processes could considerably reduce carbon emissions from transportation, FCEVs are produced at low volume, are expensive to manufacture, and lack widespread refueling infrastructure. To inform advancement pathways for FCEVs, we conducted an expert elicitation on vehicle costs and performance at anticipated production volumes, governmental actions to advance FCEVs, anticipated sales of FCEVs equipped with an automated driving system (ADS), and anticipated infrastructure deployments. Between 2020 and 2035, experts assessed a three-fold decline in fuel cell system costs to $60/kW and over an order of magnitude increase in production volume to 225,000 systems/year. Levelized costs of driving were assesed at $0.25–$0.90/mile and $0.17–$0.65/mile in 2035 and 2050, respectively. FCEVs could constitute a considerable share of ADS-equipped vehicle sales depending on cost and performance trajectories of automated driving technology and electric vehicles. Experts identified regulatory and incentive-based policies as important governmental actions to advance FCEVs and recommended hydrogen, fuel cells, and technology deployment activities each receive at least 20% of government research and development funding. Medians of experts' U.S. refueling station deployment assessments were 500 and 2,000 stations cumulative in 2030 and 2040, respectively. The middle 50% of respondents anticipated 2030 cumulative FCEV deployments in China of 100,000–1 million.

This paper estimates the value firms place on access to city centers and how this has changed with COVID-19. Pre-COVID, across 89 U.S. urban areas, commercial rent on newly executed long-term leases declines 2.3% per mile from the city center and increases 8.4% with a doubling of zipcode employment density. These relationships are stronger for large, dense “transit cities” that rely heavily on subway and light rail. Post-COVID, the commercial rent gradient falls by roughly 15% in transit cities, and the premium for proximity to transit stops also falls. We do not see a corresponding decline in the commercial rent gradient in more car-oriented cities, but for all cities the rent premium associated with employment density declines sharply following the COVID-19 shock.

The aims of the current study were to compare the pacing patterns of all-time 800 m, 1500 m and mile running world records (WRs) and to determine whether differences exist between sexes, and if 800 m and 1500 m WRs were broken during championship or meet races. Overall and lap times for men and women’s 800 m, 1500 m, and mile WRs from World Athletics were collected when available and subsequently compared. A fast initial 200 m segment and a decrease in speed throughout was found during 800 m WRs. Accordingly, the first 200 m and 400 m were faster than the last 200 m and 400 m, respectively (p < 0.001, 0.77 ≤ ES ≤ 1.86). The first 400 m and 409 m for 1500 m and mile WRs, respectively, were faster than the second lap (p < 0.001, 0.74 ≤ ES ≤ 1.46). The third 400 m lap was slower than the last 300 m lap and 400 m lap for 1500 m and mile WRs, respectively (p < 0.001, 0.48 ≤ ES ≤ 1.09). No relevant sex-based differences in pacing strategy were found in any event. However, the first 409 m lap was faster than the last 400 m lap for men but not for women during mile WRs. Women achieved a greater % of WRs than men during championships (80% vs. 45.83% in the 800 m, and 63.63% vs. 31.58% in the 1500 m, respectively). In conclusion, positive, reverse J-shaped and U-shaped pacing profiles were used to break 800 m, men’s mile and 1500 m, and women’s mile WRs, respectively. WRs are more prone to be broken during championships by women than men.

The Daily Mile™ is a widely implemented school-based physical activity initiative. However, only two studies have explored the acute effects of participation in The Daily Mile on children’s cognitive functioning, reporting conflicting findings. Moreover, enjoyment of exercise is a determining factor in children’s motivation for, and adherence to, initiatives. However, factors affecting children’s enjoyment of The Daily Mile are unknown. Therefore, this study examined the acute effects of The Daily Mile on cognition and explored children’s enjoyment of participation in the initiative. Following familiarisation, 104 children (10.4 ± 0.7 years) completed a Daily Mile and resting control trial in a randomised, counterbalanced order. Prior to, immediately following and 45 min following The Daily Mile and resting, children completed the Stroop test (inhibitory control), Sternberg paradigm (visual working memory) and Flanker task (inhibitory control and cognitive flexibility). Additionally, 87 children took part in focus groups to explore factors affecting enjoyment. Cognitive data were analysed using two-way (trial*time) and three-way (trial*time*sex; trial*time*fitness) repeated measures analysis of variance (ANOVA). Focus group data were analysed using qualitative content analysis. There were no statistically significant effects of The Daily Mile on cognition, compared to rest (all p > 0.05). However, accuracy on the one-item level of Sternberg paradigm (p = 0.073, ηp2 = 0.028) and complex level of the Stroop test (p = 0.057; ηp2 = 0.031) tended to improve immediately following The Daily Mile, compared to resting; though this did not reach statistical significance. Children enjoyed participating in The Daily Mile, particularly due to its outdoor location, social context, and self-paced nature. However, some children found The Daily Mile boring due to its repetitive nature. Findings suggest that The Daily Mile does not significantly influence children’s immediate or delayed (45 min) cognition. However, there was a tendency for improved accuracy in visual working memory and inhibitory control immediately following The Daily Mile. Moreover, the findings demonstrate that The Daily Mile promotes enjoyment, particularly through social relatedness and autonomy. However, future research could consider whether adding variety into the initiative may help to sustain engagement in the children experiencing boredom.