Risk Allocation in Toll Highway Concessions in Spain: Lessons from Economic Recession

Spain has a long tradition of encouraging toll highways by granting concessions to private companies. Concessions in Spain have been characterized by a willingness to transfer considerable risk to the private sector. Traffic demand, acquisition of the right-of-way, and financial risk have often been allocated to the private sector. From 1996 to 2011, 16 toll highway concessions, covering a total distance of 835 km, were awarded by the central government of Spain with this approach. Some of those highways started their operations just before the economic recession began. The recession had negative consequences for Spain's economy. The gross domestic product per capita plummeted, and the unemployment rate increased from 9% to 20% of the working population in just 2 years. The recession also had severe consequences for the economic performance of toll highway concessions. Traffic levels declined at a much greater rate than did the gross domestic product. In addition, the conditions imposed by the financial markets on borrowers became much stricter because of the liquidity crisis. This study analyzes the impact that the economic recession ultimately had on the performance of toll highway concessions in Spain and the actions that the government adopted to avoid the bankruptcy of the concessionaires. It was found that the economic recession helped identify some deficiencies in how risk had been allocated in Spain. The measures that both Spain and the European Union are adopting so as to improve risk allocation are discussed

Measuring Areas on Large Scale Nautical Charts on Mercator-Secant

This short paper presents a highly accurate module of surface deformation which permit to calculate, once and for all, the ellipsoid area corresponding to the area measured on nautical charts on Mercator-Secant. The accuracy of the measured surface increases together with the increase of the scale because it depends on the graphic error

Editorial of special issue “natural and artificial unsaturated soil slopes”

Natural and artificial slopes are frequently constituted, at least in part, by soils in unsaturated conditions [...

Interpretation of the behaviour of compacted soils using cam-clay extended to unsaturated conditions

This paper is focused on the interpretation of experimental results obtained at the Department of Geotechnical Engineering of the University of Naples Federico II (Italy) to investigate the effects of partial saturation on the volumetric behaviour and the initial shear stiffness of a compacted silt. Tests were performed by using suction-controlled triaxial and resonant column cells. Herein, the compatibility of the results with a Single Stress Model (SSM) is discussed. The SSM allows to highlight that suction can have two effects on the mechanical behaviour of an unsaturated soil: it increases the average volumetric stress acting on the soil skeleton and it has a sort of cementing effect on the soil packing (hardening and cementation)

Application to a compacted soil of a Cam Clay model extended to unsaturated conditions

This paper presents an interpretation of experimental results obtained at the Department of Geotechnical Engineering of the Università di Napoli Federico II. The results are part of an extensive program carried out to investigate the effects of partial saturation on the volumetric behaviour and on the initial shear stiffness of a compacted silt. Tests were performed using two suction-controlled devices, a triaxial cell and a Resonant Column Torsional Shear (RCTS) cell. The compatibility of experimental data with a Bishop Stress Model (BSM) is discussed in the paper. The BSM permits to highlight the two main effects of suction on soil behaviour: the increase of the average stress acting on the soil skeleton and the hardening - cementing of the soil packing. Hydraulic hysteresis is included in the definition of the water retention curve so that its effects, such as the irreversible component of volume change recorded during drying paths, are automatically incorporated in the predictions of the model

Reducing plastic pollution by recovery and recycling: evidence from a ‘Blue Economy’ project impacting policy-making in Italy

: This paper recognizes the relevance of the Seabed Cleaning Project, created by the Angelo Vassallo Sindaco Pescatore Foundation in 2010, and presents it as a tool to achieve benefits in environmental, social, and economic terms, in line with the innovative framework of the Blue Economy. The project suggests a practical, feasible, and scalable solution to plastic pollution that can be obtained thanks to the activity performed by fishermen in cooperation with the municipality and local community (in a multi-level cooperation perspective). The data show a significant reduction of plastic on the seafloor thanks to the project, but further research is needed in order to collect further positive outcomes from different applications of the project. In 2022, the "Salva Mare" Law was approved in the Senate, extending the good practices proposed by the Foundation nationwide and showing how small gestures and concrete actions can provide significant improvements in pursuit of a healthier, safer, greener, and smarter city for the future

Circular dielectric cavity and its deformations

The construction of perturbation series for slightly deformed dielectric circular cavity is discussed in details. The obtained formulae are checked on the example of cut disks. A good agreement is found with direct numerical simulations and far-field experiments.Comment: 17 pages, 12 figure