The Demand Responsive Transit Exchange

The Transit Exchange

Pricing RoadSpaceTimeUsing ideas from agriculture

Transport and Logistics form two of the largest markets in existence on the planet

They underpin many, if not most, aspects of all our daily lives

From....

Food production and delivery

Getting to and from work

Social events

Getting to school

To the military .....

...and emergency services

And yet, these industries remain far less efficient than they could be

Constraining people and limiting the economic potential of many areas

Costing more than they have to

Wasting time and resources

And yet they could be further refined and extended by applying certain innovative concepts from capital markets

in a new, comprehensive, and integrated manner

So what is to be done?

The answer is a Transit Exchange

What is a Transit Exchange?

Conceptually identical to a commodity exchange where an intermediary (the exchange)

enables buyers and sellers to trade with one another in a transparent manner in an open market

An exchange solves the perennial "market formation problem" where such buyers and sellers do not have to be perfectly matched in real-time

Think of vehicle operators as farmers or agricultural growers

and the passengers as the produce buyers

This approach revitalised agriculture

As well as other types of commodity markets

To this day, the remnants of those exchanges remain in most British cities

Cardiff - Coal Exchange

Leeds - Corn Exchange

Liverpool - Cotton Exchange

Manchester - Wool Exchange

And American ones

Chicago - Board of Trade

Memphis - Cotton Exchange

So for the XXI Century - why not a Transit Exchange

T.E. XXI

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

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

using the market concept and the operating principles of a commodity exchange

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)

In our analysis, by far the single biggest obstacle to urban economic growth and harmony are transport monopolies

Specifically the etiolating effect that transport monopolies have on whole areas of cities

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

If at all

Or at least when they want to

And thus those without a private car must rot

Whether the constraints come from some sort of gendarmerie or from an economic barrier to mobility

For a society to be free, there is a requirement for a certain amount of freedom in movement

Public transport by itself often does not suffice

However well intentioned the aims of the planners

A city should certainly not limit people to using just public transport

Choice is a paramount human right

A paratransit system is something that falls between the private car and the public bus

Paratransit is not particularly new and is sometimes also known as

Demand Responsive Transport

Demand Responsive Transit

DRT for short

Imagine being able to obtain point-to-point ground transportation (shared ride or individual ride) for a predictable* cost

(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]

This is the core aim behind Texxi and the DRT Exchange

Most cars carry only one person and are used less than one hour per day

This is clearly sub-optimal and there is room for improvement

To make the whole system work flawlessly, there is a need to fuse specific marketing execution with certain operational concepts

making use of the intellectual property that permits the dynamic grouping of disparate people

that allows the computer systems to interact with a variety of message origination devices

and to allow users to modify their preferences as they interact with the system

much like a software application

The marketing cannot be separated from the technology

The HLT Cloud

Tying it all together

Travel to a given city increases because of amenities and ease of travel combined with great hospitality within the city

Easy and well priced transport links to a city facilitates in-flows of visitors

Visitors will demand lodging and will either stay longer or return because of the quality of the experience

and / or other attractions such as entertainment

Which thus leads to increased demand for transport within the city

The city experiences increased trade and requires increased logistics to support that trade (delivery of food, etc.)

It may be clear that all three functions are symbiotically linked

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

Instead consider that Hospitality, Logistics

and Transportation are inextricably linked to the extent that they may as well be considered as one industry

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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