Routing hazardous materials on time-dependent networks using conditional value-at-risk
Citation:
Toumazis I., Kwon C., "Routing hazardous materials on time-dependent networks using conditional value-at-risk", Transportation Research Part C: Emerging Technologies, 2013, 37, 73-92
Abstract:
We propose a new method for mitigating risk in routing hazardous materials (hazmat),based on the conditional value-at-risk (CVaR) measure on time-dependent vehicular networks. The CVaR models are shown to be flexible and suitable for hazmat transportation that can be solved efficiently. This paper extends the previous research by considering CVaR for hazmat transportation in the case where accident probabilities and accident consequences are time-dependent. We provide a numerical method to determine an optimal departure time and an optimal route for a given origin