In:
Transportation Research Record: Journal of the Transportation Research Board, SAGE Publications, Vol. 2675, No. 10 ( 2021-10), p. 468-480
Abstract:
This paper introduces a new method for multicriteria performance-based transportation budget allocation. First, the Herfindahl–Hirschman Index (HHI) that has long been used in economics for measuring the level of monopolization in a marketplace is employed to derive the relative weights of multiple non-commensurable transportation performance criteria. Next, a compromise programming (CP) model is formulated to help transform the multicriteria optimization formulation for transportation budget allocation to a single-objective optimization model solvable by minimizing the Chebyshev distance to the ideal levels of performance targets associated with individual performance criteria. Finally, the ε-constraint trade-off analysis method is incorporated into the combined use of HHI and CP framework to iteratively derive the optimal decision outcome. Six-year data on candidate investment projects proposed for a U.S. state-maintained rural Interstate highway system along with data details of the available budget is used in a computational study for method application. Comparative analysis of decision outcomes is conducted with the STEP method for cross validation. It has revealed that the proposed HHI-CP ε-constraint method outperforms the existing method and can be adopted by state and local transportation agencies to carry out effective budget allocation.
Type of Medium:
Online Resource
ISSN:
0361-1981
,
2169-4052
DOI:
10.1177/03611981211011648
Language:
English
Publisher:
SAGE Publications
Publication Date:
2021
detail.hit.zdb_id:
2403378-9
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