Download - The Demand Responsive Transit Exchange
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The Transit Exchange
Pricing RoadSpaceTimeUsing ideas from agriculture
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Transport and Logistics form two of the largest markets in existence on the planet
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They underpin many, if not most, aspects of all our daily lives
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From....
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Food production and delivery
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Getting to and from work
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Social events
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Getting to school
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To the military .....
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...and emergency services
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And yet, these industries remain far less efficient than they could be
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Constraining people and limiting the economic potential of many areas
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Costing more than they have to
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Wasting time and resources
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And yet they could be further refined and extended by applying certain innovative concepts from capital markets
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in a new, comprehensive, and integrated manner
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So what is to be done?
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The answer is a Transit Exchange
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What is a Transit Exchange?
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Conceptually identical to a commodity exchange where an intermediary (the exchange)
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enables buyers and sellers to trade with one another in a transparent manner in an open market
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An exchange solves the perennial "market formation problem" where such buyers and sellers do not have to be perfectly matched in real-time
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Think of vehicle operators as farmers or agricultural growers
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and the passengers as the produce buyers
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This approach revitalised agriculture
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As well as other types of commodity markets
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To this day, the remnants of those exchanges remain in most British cities
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Cardiff - Coal Exchange
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Leeds - Corn Exchange
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Liverpool - Cotton Exchange
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Manchester - Wool Exchange
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And American ones
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Chicago - Board of Trade
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Memphis - Cotton Exchange
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So for the XXI Century - why not a Transit Exchange
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T.E. XXI
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The Transit Exchange for the XXI Century (Texxi) will reform the way all vehicular travel is planned and executed in every city in the world
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Such a Demand Responsive Transit Exchange (DRTE) will thus allow people to effectively access
transportation resources in any municipality far more readily than currently occurs
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using the market concept and the operating principles of a commodity exchange
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The Current State of Affairs
Increasing numbers of carsIncreasing numbers of peopleSocial inequityPedestrian Hostile Cities and TownsNo walkable amenitiesNeed for more parkingIncreasing fuel use even as cars become more efficient (due to the marginal cost of car ownership being hidden)
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In our analysis, by far the single biggest obstacle to urban economic growth and harmony are transport monopolies
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Specifically the etiolating effect that transport monopolies have on whole areas of cities
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Most people in most large (dense) cities only have a private car because without one they cannot get to the places they want to cheaply
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If at all
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Or at least when they want to
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And thus those without a private car must rot
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Whether the constraints come from some sort of gendarmerie or from an economic barrier to mobility
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For a society to be free, there is a requirement for a certain amount of freedom in movement
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Public transport by itself often does not suffice
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However well intentioned the aims of the planners
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A city should certainly not limit people to using just public transport
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Choice is a paramount human right
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A paratransit system is something that falls between the private car and the public bus
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Paratransit is not particularly new and is sometimes also known as
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Demand Responsive Transport
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Demand Responsive Transit
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DRT for short
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Imagine being able to obtain point-to-point ground transportation (shared ride or individual ride) for a predictable* cost
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(using any of several methods: SMS messaging, Smartphone, Plinth, VoicePhone or Web)
*[meaning you know before you go and you have some idea of the magnitude of the price before you confirm your booking]
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This is the core aim behind Texxi and the DRT Exchange
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Most cars carry only one person and are used less than one hour per day
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This is clearly sub-optimal and there is room for improvement
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To make the whole system work flawlessly, there is a need to fuse specific marketing execution with certain operational concepts
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making use of the intellectual property that permits the dynamic grouping of disparate people
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that allows the computer systems to interact with a variety of message origination devices
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and to allow users to modify their preferences as they interact with the system
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much like a software application
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The marketing cannot be separated from the technology
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The HLT Cloud
Tying it all together
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Travel to a given city increases because of amenities and ease of travel combined with great hospitality within the city
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Easy and well priced transport links to a city facilitates in-flows of visitors
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Visitors will demand lodging and will either stay longer or return because of the quality of the experience
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and / or other attractions such as entertainment
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Which thus leads to increased demand for transport within the city
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The city experiences increased trade and requires increased logistics to support that trade (delivery of food, etc.)
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It may be clear that all three functions are symbiotically linked
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The existing markets for freight derivatives are related to this but not in the sense that they directly integrate the hospitality industry with the logistics and transport industries
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Instead consider that Hospitality, Logistics
and Transportation are inextricably linked to the extent that they may as well be considered as one industry
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Texxi - The Electricity MarketTexxi - The 7 ModesThe Core Concepts of a Transit ExchangeTexxi - Company OverviewConnectivity of a Transit ExchangeTexxi - EU Market SizeTexxi - The Market OpportunityNew Transport Policy OptionsThe DRT Exchange ExplainedThe New Transport Economy (REPLAY)Results from Texxi Deployments 2006 - 2009Market Makers and Liquidity in DRT MarketsThe Long Tail for the Transport IndustryThe Evolution of Travel and Search
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