Their economic consequences and use in transportation planning
Glen Weisbrod
Why is it important? Uncertainty is an inherent factor in infrastructure planning and investment decision-making, but in recent years the view of uncertainty and its importance has changed substantially. This issue has now risen to the forefront as we consider the more extreme consequences of technology shifts, climate change, and resource sustainability concerns. It has increased the need and benefit of considering future risk scenarios and their economic consequences, as well as the usefulness of economic evaluation tools such as TREDIS. But first, let’s review how and why uncertainty has become so important today.
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