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Investigation of Effects of Time Preference and Risk Perception on Life-Cycle Management of Civil Infrastructure

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TLDR
In this article, life cycle management (LCM) of civil infrastructures has been studied in order to achieve long service life and low probability of failure in infrastructure systems.
Abstract
Civil infrastructure systems have two essential characteristics: long service life and low probability of failure. Under these circumstances, life-cycle management (LCM) of civil infrastruc...

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Citations
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Life-cycle optimization of structural systems based on cumulative prospect theory: Effects of the reference point and risk attitudes

TL;DR: In this article, the parameters of cumulative prospect theory (CPT) were calibrated through a survey among students and practicing engineers in the field of structural engineering, and the fitted model was applied to life-cycle maintenance of a steel girder bridge.
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Expediting Life Cycle Cost Analysis of Infrastructure Assets under Multiple Uncertainties by Deep Neural Networks

TL;DR: In this paper, the authors present a project-levleviation model for maintaining at risk infrastructure assets at acceptable conditions by asset management systems (AMSs) to ensure the safety and welfare of communities.
Journal ArticleDOI

An open-source and extensible platform for general infrastructure asset management system

TL;DR: The first open-source, extensible, freely accessible, and modular platform developed in Python, GIAMS is put forward, paving the way for researchers and practitioners to easily collaborate and contribute to future related research.
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A Decision-Making Framework for Load Rating Planning of Aging Bridges Using Deep Reinforcement Learning

TL;DR: Load rating is gaining popularity as a method for inspecting the structural performance of aging bridges and determining maintenance actions and cost-effective condition-based strategies have been proposed.
Journal ArticleDOI

Upscaling Complex Project-Level Infrastructure Intervention Planning to Network Assets

TL;DR: Probabilistic and nonlinear models have been used to accurately model various phenomena in asset management systems (AMS) with a commonly adopted framework using Monte Carlo simulation and Monte Carlo.
References
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Journal ArticleDOI

Regression and time series model selection in small samples

TL;DR: In this article, a bias correction to the Akaike information criterion, called AICC, is derived for regression and autoregressive time series models, which is of particular use when the sample size is small, or when the number of fitted parameters is a moderate to large fraction of the sample sample size.
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Time Discounting and Time Preference: A Critical Review

TL;DR: In this paper, the authors discuss the discounted utility (DU) model, its historical development, underlying assumptions, and "anomalies" -the empirical regularities that are inconsistent with its theoretical predictions.
Journal ArticleDOI

Pitting Corrosion of Metals A Review of the Critical Factors

TL;DR: In this paper, the authors provide an overview of the critical factors influencing the pitting corrosion of metals, including alloy composition, environment, potential, and temperature, and a summary is given of studies that have focused on various stages of the pit process, including breakdown of the passive film, metastable pitting and pit growth.
Journal ArticleDOI

Individual Discount Rates and the Purchase and Utilization of Energy-Using Durables

TL;DR: In this article, a model of individual behavior in the purchase and utilization of energy-using durables is presented, where the tradeoff between capital costs for more energy efficient appliances and operating costs for the appliances is emphasized.
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