Throughout the United States, state highway revenue, which is dominated by receipts from fuel taxes, has failed to keep up with expected investments required for infrastructure preservation and improvement. The reasons for this trend include the increasing fuel efficiency of vehicles, slowing of...

A key aspect of asset management is the determination of the performance level at which a standard intervention is to be applied. A profligate policy, where an intervention is applied when the asset is in a state of higher performance, would mean frequent and premature spending of agency funds...

A shortfall in highway funding in the U.S. is forcing highway agencies to search for viable financing options. This will likely lead to reforming fiscal policy for highway systems. A sound highway fiscal policy comprises two components: generation of adequate revenues through efficient pricing...

In the absence of order-book data and limited information on quoted bid-ask spreads in the Indian stock market, this paper attempts to analyze the bid-ask spread in Indian market by estimating bid-ask spreads and its components from trade prices. The sample consists of tick-by-tick data for the...