Airport Planning Using Fuzzy Dual Dynamic Programming
- Elena Mihaela Capitanul
- Fabio Krykhtine
- Hamdan Alfazari
- Carlos Alberto Nunes Cosenza
- Felix Antonio Claudio Mora-Camino
Labfuzzy, COPPE/UFRJ, Centro de Tecnologia, Ilha do Fundão, Rio de Janeiro, Brazil · Faculty of Engineering, Sohar University, Oman
- Evento
- XV SITRAER – São Luís, MA, Brasil, 24 a 26 de outubro de 2016
- Volume
- Anais do XV Air Transportation Symposium (SITRAER) · ISSN 2448-1912
- Páginas
- 360–372
- Editora
- Instituto Tecnológico de Aeronáutica (ITA)
- Editores
- Carlos Müller
Abstract
Airports are asset-intensive businesses that require a large amount of time to recover the significant financial investments in specific infrastructure such as runways and terminals. Then airports investors must perform strategic moves based on calculated risks before taking investment decisions. This communication puts forward a new approach for airport investment risk assessment. The approach takes explicitly into account the degree of uncertainty in activity levels prediction and proposes milestones for the different stages of the project for minimizing risk. Uncertainty is represented through fuzzy dual theory and risk management is performed using dynamic programming.
Keywords: airports; financial risk assessment; uncertainty; fuzzy dual; dynamic programming