Equitable routing of rail hazardous materials shipments using CVaR methodology

The low probability – high consequence nature of hazardous materials (hazmat) incidents dictate a risk-averse route planning approach. However, preparing routing plans for multiple hazmat shipments between various origin–destination pairs also raises the question of risk-equity, and not just minimization of hazmat risk. Hence, the objective is to plan an equitable routing plan for different rail hazmat shipments while not only ensuring the …