A subsidy policy to managing hazmat risk in railroad transportation network

Hazardous materials (hazmat) shipments are integral to any modern society, and railroad is the primary transportation mode in North America. Given the catastrophic nature of rail hazmat incidents, every effort should be made to mitigate risk. This study investigates a novel risk mitigation tool, i.e., subsidy, to induce railroad operators to take alternate routes that are away from high-risk portions of the network such as population centers. …