01103551

Component

https://doi.org/10.3141/2086-05

http://scholar.google.com...ltes&publication_year=2008

A practical approach was developed to calculate how design flexibility—that is, real options—in systems can increase the value of these enterprises. A flexible approach to the deployment of infrastructure systems enables owners to manage the development of these facilities to increase expected value. Real options in the system make the system adaptable to future patterns of technological innovation and changes in stakeholder needs. With this flexibility, system managers can respond effectively to good opportunities and withdraw from unproductive paths of deployment. This is important because forecasts concerning major infrastructure systems are inherently uncertain: trend-breakers routinely disrupt historical patterns. Real options are especially valuable for innovative, major long-term developments, for which trends hardly exist and forecasts are highly speculative. To illustrate the use and value of real options, a case study was followed for the deployment of a particular aspect of intelligent transportation systems: innovative crash avoidance systems that reduce accidents at highway intersections.

01120900

English

pp 40-47

2008

Transportation Research Record: Journal of the Transportation Research Board

9780309125987

Print

Figures (3) ; References (28) ; Tables (1)

Case studies; Crash avoidance systems; Infrastructure; Intelligent transportation systems; Technological innovations

Design flexibility; Value

Highways; Operations and Traffic Management; I73: Traffic Control

TRIS, TRB, ATRI

Jan 29 2008 3:00PM

• Automatic Camera Calibration Using Pattern Detection for Vision-Based Speed Sensing
• Determinants of Route Choice and Value of Traveler Information: A Field Experiment
• Distributed Controller Design Approach to Dynamic Speed Limit Control Against Shockwaves on Freeways
• Effectiveness and Acceptance of Adaptive Intelligent Speed Adaptation Systems
• Evaluating Traveler Information Effects on Commercial and Noncommercial Users
• Evaluation of Cell Phone Traffic Data in Minnesota
• Evaluation of Route Guidance Strategies Based on Vehicle–Infrastructure Integration Under Incident Conditions
• Implementing Vehicle–Infrastructure Integration: Real-World Challenges
• Mobility and Commute Disutility Effects of 511 Deployment in Salt Lake City, Utah
• Operation Data for Evaluating Benefits and Costs of Advanced Traffic Management Components
• Real-Time Vehicle Classification Using Inductive Loop Signature Data
• Simple Mixed Reality Infrastructure for Experimental Analysis of Route Choice Behavior: Applications of Intelligent Transportation Systems
• Traffic Probe Data Processing for Full-Scale Deployment of Vehicle–Infrastructure Integration
• Vehicle Detection in Far Field of View of Video Sequences
• Wireless Infrastructure-to-Vehicle Communication Technologies to Increase Road Safety Along Motorways