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- W4379468864 abstract "The Real Options (RO) approach is a powerful tool for decision analysis in dynamic or non-stationary stochastic settings, as it considers the value of decision flexibility under uncertainty. In recent years, there has been a significant increase in the use of the RO approach in the transportation literature, where it has been applied to model and analyze various topics in different transportation sectors. To better understand the development of RO analysis in transportation research, we conduct a review of 51 papers from 19 internationally-renowned transportation journals published in the past 30 years. These publications are categorized into three main areas: maritime, aviation, and road/railway/transit. We examine the themes, sources of uncertainty, models, and solving methods used in each publication to identify possible future research directions. Overall, our review highlights the growing use of the RO approach in transportation research and its potential for improving decision-making in uncertain environments. The insights gained from this review can help researchers identify areas for future investigation and facilitate the development of more effective and efficient transportation systems." @default.
- W4379468864 created "2023-06-07" @default.
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- W4379468864 date "2023-12-01" @default.
- W4379468864 modified "2023-10-16" @default.
- W4379468864 title "Real options in transportation research: A review" @default.
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- W4379468864 doi "https://doi.org/10.1016/j.team.2023.06.001" @default.
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