Risk and irreversibility of transport interventions

Farideh Ramjerdi and Nils Fearnley

Transportation Research Part A: Policy and Practice, 2014, vol. 60, issue C, 31-39

Abstract: Infrastructure decisions and transport policies are often based on the notion that all decisions are made at one single point in time, based on full information and an accurate evaluation of the benefits and costs of different alternatives. The reality is very much different, especially in the transport sector, due to the complex and dynamic nature of the transport system and the interplay between the many sub-systems that comprise it. Inherent in such complexities are elements of uncertainty, risk, irreversibility, path dependency and lock-in effects.

Keywords: Policy package; Ex-ante and ex-post; Risk, uncertainty and irreversibility; Path dependency and lock-in; Flexible planning (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0965856413002024
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:transa:v:60:y:2014:i:c:p:31-39

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/supportfaq.cws_home/regional
https://shop.elsevie ... _01_ooc_1&version=01

DOI: 10.1016/j.tra.2013.10.014

Access Statistics for this article

Transportation Research Part A: Policy and Practice is currently edited by John (J.M.) Rose

More articles in Transportation Research Part A: Policy and Practice from Elsevier
Bibliographic data for series maintained by Catherine Liu ().