Design and Management of Flexible Transportation Networks Through the use of Intelligent Transportation Systems (ITS)
Name
esd-wp-2008-08.pdf
Size
202.44 KB
Format
Adobe PDF
Checksum (MD5)
98d1b22bc689754249fe8592a5e636f5
Author(s)
McConnell, Joshua
Sussman, Joseph M.
Date Issued
February 2008
Publisher
Massachusetts Institute of Technology. Engineering Systems Division
Series/Report no.
ESD Working Papers;ESD-WP-2008-08
Abstract
Designing a flexible system with real options is a method for managing uncertainty. In this research, Intelligent Transportation System (ITS) capabilities were used to create a flexible transportation system, capable of coping with multiple uncertainties. Specifically, HOT, BRT and TOT managed lanes were examined in a case study centered in Houston, Tx, to determine the benefits of flexibility these capabilities provide. A qualitative analysis procedure utilizing regional traffic demand modeling and real options analysis was utilized to assess these benefits. It was found that ITS managed lanes can be configured in multiple ways to create flexibility in transportation systems, each of which provides value when dealing with uncertainty.
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