Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
6936516 | Transportation Research Part C: Emerging Technologies | 2016 | 16 Pages |
Abstract
We study the fleet portfolio management problem faced by a firm deciding which alternative fuel vehicles (AFVs) to choose for its fleet to minimise the weighted average of cost and risk, in a stochastic multi-period setting. We consider different types of technology and vehicles with heterogeneous capabilities. We propose a new time consistent recursive risk measure, the Recursive Expected Conditional Value at Risk (RECVaR), which we prove to be coherent. We then solve the problem for a large UK based company, reporting how the optimal policies are affected by risk aversion and by the clustering for each type of vehicle.
Related Topics
Physical Sciences and Engineering
Computer Science
Computer Science Applications
Authors
Amir H. Ansaripoor, Fernando S. Oliveira, Anne Liret,