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Risk and irreversibility of transport interventions

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  • Ramjerdi, Farideh
  • Fearnley, Nils
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    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.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0965856413002024
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    Bibliographic Info

    Article provided by Elsevier in its journal Transportation Research Part A: Policy and Practice.

    Volume (Year): 60 (2014)
    Issue (Month): C ()
    Pages: 31-39

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    Handle: RePEc:eee:transa:v:60:y:2014:i:c:p:31-39

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    Related research

    Keywords: Policy package; Ex-ante and ex-post; Risk; uncertainty and irreversibility; Path dependency and lock-in; Flexible planning;

    References

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    Cited by:
    1. Justen, Andreas & Schippl, Jens & Lenz, Barbara & Fleischer, Torsten, 2014. "Assessment of policies and detection of unintended effects: Guiding principles for the consideration of methods and tools in policy-packaging," Transportation Research Part A: Policy and Practice, Elsevier, vol. 60(C), pages 19-30.

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