To what extent are CO2 emissions from intra-urban shopping trips by cars affected by drivers’ travel behaviour and store location?

Transportation is seen as one of the major sources of CO2 pollutants nowadays. The impact of increased transport in retailing should not be underestimated. Most previous studies have focused on transportation and underlying trips, in general, while very few studies have addressed the specific affects that, for instance, intra-city shopping trips generate. Furthermore, most of the existing methods used to estimate emission are based on macro-data designed to generate national or regional inventory projections. There is a lack of studies using micro-data based methods that are able to distinguish between driver behaviour and the locational effects induced by shopping trips, which is an important precondition for energy efficient urban planning. The aim of this study is to implement a micro-data method to estimate and compare CO2 emission induced by intra-urban car travelling to a retail destination of durable goods (DG), and non-durable goods (NDG). We estimate the emissions from aspects of travel behaviour and store location. The study is conducted by means of a case study in the city of Borlänge, where GPS tracking data on intra-urban car travel is collected from 250 households. We find that a behavioural change during a trip towards a CO2 optimal travelling by car has the potential to decrease emission to 36% (DG), and to 25% (NDG) of the emissions induced by car-travelling shopping trips today. There is also a potential of reducing CO2 emissions induced by intra-urban shopping trips due to poor location by 54%, and if the consumer selected the closest of 8 existing stores, the CO2 emissions would be reduced by 37% of the current emission induced by NDG shopping trips.

The Determinants of Recovery Rates on Defaulted Corporate Securities: Why do Fallen Angels recover more than Original High Yield Issues?

Regression analysis has shown that recovery rates are determined by a variety of conditions at the time of default. These conditions can be broken into five major categories: (1) a security's seniority within the capital structure of the defaulting firm, (2) the type of default event, (3) firm-specific factors, (4) industry-specific factors, and (5) macroeconomic factors. Expectations of these inputs determine the expected recovery rate if default were to occur, thereby determining credit ratings and security prices. Although it is widely understood how recovery rate estimates influence credit rating assignments (the higher the expected recovery rate, the higher the assigned credit rating), no research, to the best of my knowledge, has investigated the reasons why higher rated securities recover more than lower rated securities in the event of default. Specifically, this paper will empirically investigate why securities originally rated investment grade, fallen angels, recover more than securities originally rated high yield in the event of default.

The travel imagination and the hybrid reality in the wake of colonialism

The “traveling imagination,” is of paramount importance to both western and postcolonial travelers. Since both groups create “travel imaginations” by extensive reading, the nature of the books that inform them must directly affect their travels. A westerner, for example, who reads only colonial-era accounts has the “travel imagination” of a different generation. If all perspectives were represented equally in libraries, the “travel imagination” of a given person would be entirely his/her own. But usually the “traveler’s imagination” is biased by prevailing opinion. Libraries are not democracies, and sometimes extensive reading only indoctrinates the reader with the biases of the canon. Perhaps the following generalization will be helpful. Westerners are able to create “traveling imaginations,” based on the books they trust. But postcolonials, who have reason to be suspicious of what they read, have complicated “traveling imaginations.” Sometimes postcolonial travelers base their “traveling imaginations” on what they read, and sometimes, in opposition to what they read. The books discussed in this thesis, In Patagonia, The Cruise of the Shark, The Happy Isles of Oceania, A Passage to England and The Enigma of Arrival, were first published in, 1977, 1939, 1992, 1971 and 1987, respectively, in what Ali Behdad calls the “age of colonial dissolution.” Perhaps it would be more accurate to say these books are set in the “age of colonial demolition.” For the most part, the empires in these texts are in ruins, or at least in the process of being dismantled. In fact, two of the authors, Nirad Chaudhuri and V.S. Naipaul are canonical post-colonial thinkers.