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Robust Routing for Hazardous Materials Transportation With Conditional Value-at-Risk on Time-Dependent Networks
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    Final report.
  • Abstract:
    New methods are proposed for mitigating risk in hazardous materials (hazmat) transportation, based on Conditional Value-at-Risk (CVaR) measure, on time-dependent vehicular networks. While the CVaR risk measure has been popularly used in financial portfolio optimization problems, its application in hazmat transportation has been very recently proposed. The CVaR models are shown to be flexible and general routing models for hazmat transportation, and be solved efficiently. This research project will extend the previous research by considering CVaR for hazmat transportation on time-dependent networks.

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