Recursive expected conditional value at risk in the fleet renewal problem with alternative fuel vehicles
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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.
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The Heavy Vehicle Study: a case-control study investigating risk factors for crash in long distance heavy vehicle drivers in AustraliaStevenson, M.; Sharwood, L.; Wong, K.; Elkington, J.; Meuleners, Lynn; Ivers, R.; Grunstein, R.; Williamson, A.; Haworth, N.; Norton, R. (2010)Background: Heavy vehicle transportation continues to grow internationally; yet crash rates are high, and the risk of injury and death extends to all road users. The work environment for the heavy vehicle driver poses ...
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