Value creation in capital waterway projects: Application of a transaction cost and transaction benefit framework for the Miami River and the New Orleans Inner Harbour Navigation Canal

Waterways have many more ties with society than as a medium for the transportation of goods alone. Waterway systems offer society many kinds of socio-economic value. Waterway authorities responsible for management and (re)development need to optimize the public benefits for the investments made. However, due to the many trade-offs in the system these agencies have multiple options for achieving this goal. Because they can invest resources in a great many different ways, they need a way to calculate the efficiency of the decisions they make. Transaction cost theory, and the analysis that goes with it, has emerged as an important means of justifying efficiency decisions in the economic arena. To improve our understanding of the value-creating and coordination problems for waterway authorities, such a framework is applied to this sector. This paper describes the findings for two cases, which reflect two common multi trade-off situations for waterway (re)development. Our first case study focuses on the Miami River, an urban revitalized waterway. The second case describes the Inner Harbour Navigation Canal in New Orleans, a canal and lock in an industrialized zone, in need of an upgrade to keep pace with market developments. The transaction cost framework appears to be useful in exposing a wide variety of value-creating opportunities and the resistances that come with it. These insights can offer infrastructure managers guidance on how to seize these opportunities.

Disclosures Of ABS Transaction Structure Under EU And US Law

This chapter examines the legal concept of transaction structures under EU and US law for asset-backed securities

Fieldworks from the Museum of the Void: Experiments in the Event of an Archive

This exhibition was a research presentation of works made at Center for Land Use Interpretation [CLUI]base in Wendover, Utah, USA between 2008-2010. The project was commissioned by the Centre For Land Interpretation in USA and funded by The Henry Moore Foundation in the UK. Documentation of research conducted in the field as made available as video and installation. An experimental discourse on the preservation of land art was put with GPS drawings and research information displayed as maps and documents. In examining physical sites in Utah, USA, the project connected to contemporary discourse centred on archives in relation to land art and land use. Using experimental processes conceived in relation to key concepts such as event structures and entropy, conceptual frameworks developed by Robert Smithson (USA) and John Latham (UK), the 'death drive' of the archive was examined in the context of a cultural impulse to preserve iconic works. The work took items from Lathams archive and placed them at the canonical 'Spiral Jetty', Smithson land art work at Rozel Point north of Salt Lake City. This became a focus for the project that also highlighted the role of the Getty Foundation in documenting major public artworks and CLUI in creating an American Land Museum. Work was created in the field at extreme remote locations using GPS technologies and visual tools were developed to articulate the concepts of the artists discussed, to engage the exhibition audience in ideas of transformation and entropy in art. Audiences were encouraged to sign a petition to be used in future preservation of spiral jetty currently facing development challenges.