A Risk-averse Two-stage Stochastic Programming Model For Transportation Network Protection Problems

This research work focuses on pre-disaster transportation network protection against uncertain future disasters, such as earthquakes. Traditional two-stage stochastic programming is risk- neutral in the sense that the best decisions are identified by considering the expectations as the preference creation. In the presence of variability risk measures, the authors develop a risk-averse two- stage stochastic programming model, where the conditional value-at-risk (CVaR) is specified as the risk measure. The model is formulated as a mixed integer nonlinear programming (MINLP) problem, which is notoriously difficult to solve even for a median sized network. A generalized Benders decomposition (GBD) method is developed to solve the model. In this work, the authors applied the proposed model to highway bridge retrofit, which is one of the research fields that can significantly benefit from risk-averse stochastic models. They demonstrate the applicability of the model for solving large scale stochastic network optimization problems. They present numerical results to discuss how the risk measure affects the optimal solutions and demonstrate the computational effectiveness of the proposed decomposition methods.

• Supplemental Notes:
  • This paper was sponsored by TRB committee ADB30 Transportation Network Modeling.
• Corporate Authors:

  Transportation Research Board

  500 Fifth Street, NW
  Washington, DC  United States  20001
• Authors:
  • Lu, Jie
  • Huang, Yongxi
  • Gupte, Akshay
• Conference:
  • Transportation Research Board 94th Annual Meeting
  • Location: Washington DC, United States
  • Date: 2015-1-11 to 2015-1-15
• Date: 2015

Language

• English

Media Info

• Media Type: Digital/other
• Features: Figures; References; Tables;
• Pagination: 18p
• Monograph Title: TRB 94th Annual Meeting Compendium of Papers

Subject/Index Terms

• TRT Terms: Decision making; Disaster preparedness; Hazard mitigation; Highway bridges; Network analysis (Planning); Protection; Retrofitting; Risk management; Stochastic programming
• Subject Areas: Bridges and other structures; Highways; Operations and Traffic Management; Planning and Forecasting; Security and Emergencies; I10: Economics and Administration;

Filing Info

• Accession Number: 01557888
• Record Type: Publication
• Report/Paper Numbers: 15-4866
• Files: TRIS, TRB, ATRI
• Created Date: Mar 26 2015 5:28PM