UTRC Press Release
January 17, 2013
Contact: Nadia Aslam
Assistant Director for Technology Transfer
University Transportation Research Center - Region 2
Tel: 212-650-8051
Email: nadia@utrc2.org
The University Transportation Research Center (UTRC) Publishes the Final Report: "Robust Routing for Hazardous Materials Transportation with Conditional Value-at-Risk on Time-Dependent Networks"
UTRC has released a final report on the research titled: "Robust Routing for Hazardous Materials Transportation with Conditional Value-at-Risk on Time-Dependent Networks", funded by the Research and Innovative Technology Administration (RITA/USDOT). The principal investigator was Dr. Changhyun Kwon, an Assistant Professor of Industrial & Systems Engineering, at the University at Buffalo/SUNY.
In this report, 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..
The full report is available for a free download at the UTRC website: http://www.utrc2.org/publications/robust-routing-final-report
About the University Transportation Research Center (UTRC)
The University Transportation Research Center (UTRC) is a USDOT Regional Transportation Center addressing surface transportation operations, management, design economics and planning. The Region 2 University Transportation Research Center is one of ten original National Centers, established in 1987, in recognition that transportation plays a key role in the nation’s economy and in the quality of people’s lives. Located at the City University of New York, the Center is a Consortium of 17 major Academic Institutions in New York, New Jersey, and Puerto Rico. Through the Grant supporting the Center, the mission incorporates research, education and the transfer of technology in the field of transportation. Academically based, the work of Faculty and Students – graduate and undergraduate provide a critical link in resolving our national and regional transportation problems while training the future and current professionals who address our transportation system and their customers on a daily basis. For more information, visit www.utrc2.org.