Integrated Herfindahl–Hirschman Index, Compromise Programming, and <i>ε</i>-Constraint Method For Multicriteria Performance-Based Transportation Budget Allocation

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Integrated Herfindahl–Hirschman Index, Compromise Programming, and ε-Constraint Method For Multicriteria Performance-Based Transportation Budget Allocation

Truong, Tung Q. / Zhang, Ji / Li, Zongzhi / Wang, Lu

This paper introduces a new method for multicriteria performance-based transportation budget allocation. First, the Herfindahl–Hirschman Index (HHI) that has long been used in economics for measuring the level of monopolization in a marketplace is employed to derive the relative weights of multiple non-commensurable transportation performance criteria. Next, a compromise programming (CP) model is formulated to help transform the multicriteria optimization formulation for transportation budget allocation to a single-objective optimization model solvable by minimizing the Chebyshev distance to the ideal levels of performance targets associated with individual performance criteria. Finally, the ε-constraint trade-off analysis method is incorporated into the combined use of HHI and CP framework to iteratively derive the optimal decision outcome. Six-year data on candidate investment projects proposed for a U.S. state-maintained rural Interstate highway system along with data details of the available budget is used in a computational study for method application. Comparative analysis of decision outcomes is conducted with the STEP method for cross validation. It has revealed that the proposed HHI-CP ε-constraint method outperforms the existing method and can be adopted by state and local transportation agencies to carry out effective budget allocation.

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Title :

Integrated Herfindahl–Hirschman Index, Compromise Programming, and ε-Constraint Method For Multicriteria Performance-Based Transportation Budget Allocation

Additional title:

Transportation Research Record

Contributors:

Truong, Tung Q. (author) / Zhang, Ji (author) / Li, Zongzhi (author) / Wang, Lu (author)

Published in:

Transportation Research Record: Journal of the Transportation Research Board ; 2675 , 10 ; 468-480

Publication date :

2021-05-05

ISSN :

2169-4052 , 0361-1981

DOI :

https://doi.org/10.1177/03611981211011648