Mixed Route Strategies for the Risk-Averse Shipment of Hazardous Materials
Michael Bell ()
Networks and Spatial Economics, 2006, vol. 6, issue 3, 253-265
Previous work on the risk-averse routing of hazardous materials has focussed on ways of finding the safest route between a pair of points. For repeated shipments where the arc incident probabilities are unknown, it is shown that the safest strategy is in general to use a mix of routes. Starting with a simple two-route example, it is shown that exposure can be significantly reduced by sharing shipments between routes. In order to determine the safest set of routes and the safest share of traffic between these routes, a minmax problem is formulated. The properties of the optimality conditions are explored. A simple solution heuristic based on a shortest path algorithm and the method of successive averages is proposed. Connections to game theory provide useful insights into the nature of the solution. Copyright Springer Science + Business Media, LLC 2006
Keywords: Network reliability; Hazmats; Uncertainty (search for similar items in EconPapers)
References: View complete reference list from CitEc
Citations: View citations in EconPapers (11) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:kap:netspa:v:6:y:2006:i:3:p:253-265
Ordering information: This journal article can be ordered from
http://www.springer. ... ce/journal/11067/PS2
Access Statistics for this article
Networks and Spatial Economics is currently edited by Terry L. Friesz
More articles in Networks and Spatial Economics from Springer
Bibliographic data for series maintained by Sonal Shukla ().