Predictive analytics and disused railways requalification: insights from a Post Factum Analysis perspective

Krzysztof Ciomek, Valentina Ferretti and Milosz Kadzinski

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: Strategic decision making problems in the public policy domain typically involve the comparison of competing options by different stakeholders. This paper considers a real case study oriented toward ranking potential actions for the regeneration of disused railways in Italy. The study involves multiple con icting criteria such as an expected duration of construction works, costs, a number of potential users, and new green areas. Within this context, we demonstrate that Post Factum Analysis (PFA) coupled with Decision Aiding supports the development of robust recommendations. The role of PFA is to highlight how the actions' performances need to be modified so that the recommendation is changed in a desired way. In particular, it highlights the minimal improvements that would warrant the feasibility of some currently impossible outcome (e.g., achieving a better position in the ranking) or the maximal deteriorations that alternatives can afford to maintain some target result (e.g., not losing their advantage over some other options). The use of a focus group with both experts and participants in the decision making process provided insights on how PFA can support: (i) the creation of arguments in favour or against the respective options under analysis, (ii) understanding of the results' sensitivity with respect to possible changes in the alternatives' performances, (iii) a better informed discussion about the results among the participants in the process, and (iv) the development of new/better alternatives.

Keywords: Multiple criteria; analysis; Post Factum Analysis; ensitivity analysis; Urban regeneration; participation; Greenways (search for similar items in EconPapers)
JEL-codes: J50 (search for similar items in EconPapers)
Date: 2018-01-01
New Economics Papers: this item is included in nep-cdm
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Citations: View citations in EconPapers (7)

Published in Decision Support Systems, 1, January, 2018, 105, pp. 34-51. ISSN: 0167-9236

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