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.

Departure and approach procedures for unmanned aircraft systems in a visual-flight-rule environment

This paper assesses the departure and approach operations of unmanned aircraft systems in one of the most challenging scenarios: flying under visual flight rules. Inspired by some existing procedures for (manned) general aviation, some automatic and predefined procedures for unmanned aircraft systems are proposed. Hence, standardized paths to specific waypoints close to the airport are defined for departure operations, just before starting the navigation phase. Conversely, and for the approach maneuvers, a first integration into a holding pattern near the landing runway (ideally, above it) is foreseen, followed by a standard visual-flight-rule airfield traffic pattern. This paper discuses the advantages of these operations, which aim to minimize possible conflicts with other existing aircraft while reducing the pilot-in-command workload. Finally, some preliminary simulations are shown in which these procedures have been successfully tested with simulated surrounding traffic.