Uncertainties Influencing Transportation System Performances

Serban Raicu, Mihaela Popa and Dorinela Costescu
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Serban Raicu: Doctoral School of Transport, Polytechnic University of Bucharest, Splaiul Independentei 313, 060042 Bucharest, Romania
Mihaela Popa: Doctoral School of Transport, Polytechnic University of Bucharest, Splaiul Independentei 313, 060042 Bucharest, Romania
Dorinela Costescu: Doctoral School of Transport, Polytechnic University of Bucharest, Splaiul Independentei 313, 060042 Bucharest, Romania

Sustainability, 2022, vol. 14, issue 13, 1-15

Abstract: The design and operation of transportation systems, as with any large complex technical system, are marked by indetermination—risks and uncertainties (scientific/methodologic and/or socio-economic). This paper analyzes the occurrence and consequences of uncertainties, defined as completely unknown random events (“unknown unknowns”), on transportation system performances. Interest in the topic is justified by the considerable value and long life of transportation system components. In order to reduce the effects of uncertainties, a holistic approach to all technical infrastructures in society, regardless of the flow category (material, energy, information), is necessary. Technological progress and changes in territorial activity systems historically confirm the dynamism of the competition and complementarity relations between civil and industrial infrastructures and transport infrastructures, as well as among different modal transport/traffic infrastructures. Declining discount rates are applied to compensate for the effects of uncertainties on investment project opportunities on long time horizons. There is no unanimous agreement on the discount rate values. Unforeseen exogenous events are considered differentiated/non-systemic or undifferentiated/systemic uncertainties. They can have significant consequences on the performance of a transport system, including a change in the transport market share. Therefore, an adaptive policy is required to reduce the methodological/scientific and socio-economic uncertainties that affect the design and operation of any transportation system.

Keywords: transportation system; traffic infrastructure; investments; uncertainty; risk; discount rate (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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