Stochastic Risk vs. Policy Oriented Uncertainties: The Case of the Alpine Crossings
AbstractThis paper focuses on uncertainties in traffic forecasting. Three major sources of uncertainties are observed for freight demand models. The first one is the model specification itself. We are not interested by it. The second one concerns uncertainties over forecasting hypotheses. A mean to control such uncertainties lies in the introduction of risk in the Costs Benefits Analysis (CBA). Two directions have been taken by this research. The first one is the theoretical framework of CBA under uncertainty mainly developed after Dixit and Pindyck (1994). The second one is more empirical and uses Monte Carlo simulations. Major results of these researches are presented. Then, we apply them to a large transport investment simulation. These tools cannot be used for all kinds of uncertainties. The second part of this paper deals with the third source of uncertainties i. e. policy oriented uncertainties. For them, previous methods are useless. The current Alpine crossings context shows that transport policy is a major determinant of traffics. Furthermore, long term forecasting cannot exclude the possibility of changes in transport policy. This uncertainty should be controlled. It is the role of strategic modeling.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by HAL in its series Post-Print with number halshs-00095852.
Date of creation: 2004
Date of revision:
Publication status: Published - Presented, AET. European Transport Conference 2004 – ETC 2004, 4 - 6 october 2004, Strasbourg, 2004, London, United Kingdom
Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00095852/en/
Contact details of provider:
Web page: http://hal.archives-ouvertes.fr/
risk ; uncertainty ; traffic forecasting ; Monte Carlo simulation ; transport policy ; Strategic models ; Alpine crossings;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Xuehao Chu & Steven Polzin, 2000. "Timing rules for major transportation investments," Transportation, Springer, Springer, vol. 27(2), pages 201-219, May.
- Nijkamp, Peter & Ubbels, Barry, 1998.
"How reliable are estimates of infrastructure costs? A comparative analysis,"
Serie Research Memoranda, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics
0029, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Nijkamp, Peter & Ubbels, Barry, 1998. "How reliable are estimates of infrastructure costs? A comparative analysis," Serie Research Memoranda, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics 0029, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Arrow, Kenneth J & Lind, Robert C, 1970. "Uncertainty and the Evaluation of Public Investment Decisions," American Economic Review, American Economic Association, American Economic Association, vol. 60(3), pages 364-78, June.
- Bruzelius, Nils & Flyvbjerg, Bent & Rothengatter, Werner, 2002. "Big decisions, big risks. Improving accountability in mega projects," Transport Policy, Elsevier, vol. 9(2), pages 143-154, April.
- Crainic, Teodor Gabriel & Laporte, Gilbert, 1997. "Planning models for freight transportation," European Journal of Operational Research, Elsevier, Elsevier, vol. 97(3), pages 409-438, March.
- Maggi, Rico, 1992. "Swiss transport policy for Europe? Federalism and the dominance of local issues," Transportation Research Part A: Policy and Practice, Elsevier, Elsevier, vol. 26(2), pages 193-198, March.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD).
If references are entirely missing, you can add them using this form.