Transport impact of in urban planning: the case of Transmilenio in Bogota

The growth and expansion of cities during the last century can’t be seen without taking into account the important role they have assumed in the transport infrastructure. In Bogota have passed trough streetcar, buses and automóviles was deciding for the city, because all this periods marked a drastic change in growth morphology. This article studies the planning of Mass Transit System –MTS– Transmilenio and its interaction with the urban structure, in light of the current city planning framework. It also specifies the behavior of land use in the construction of the system first phase. One of the most important findings of this study is that there is no articulation between land and transport use system, despite the decisions taken in the ordering model. Similarly, local and intermediate planning exhibits Peak articulation.The existing infrastructure of the MTS reiterates the tendency to concentrate the accessibility in one place: the center has the largest accessibility whereas periphery fails to overcome its limitations of accessibility. While the city continued with this trend the existence of a coordinated planning system for Bogota and the ability to meet expectations of planning model is questionable, however it is something that depends not only on MTS.

Option pricing in market models driven by telegraph processes with jumps

Esta tesis está dividida en dos partes: en la primera parte se presentan y estudian los procesos telegráficos, los procesos de Poisson con compensador telegráfico y los procesos telegráficos con saltos. El estudio presentado en esta primera parte incluye el cálculo de las distribuciones de cada proceso, las medias y varianzas, así como las funciones generadoras de momentos entre otras propiedades. Utilizando estas propiedades en la segunda parte se estudian los modelos de valoración de opciones basados en procesos telegráficos con saltos. En esta parte se da una descripción de cómo calcular las medidas neutrales al riesgo, se encuentra la condición de no arbitraje en este tipo de modelos y por último se calcula el precio de las opciones Europeas de compra y venta.