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Dr. Changhyun Kwon
Iakovos Toumazis
Dr. Changhyun Kwon
Publication Year
Publication Type

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.