Department of Computer, Control and Management Engineering

Giorgio will give a talk on his recent research on a Real Option-based framework to evaluate investment choices in different bus technologies. Fleet owners deal with various and critical uncertainties while planning bus fleet replacement, encompassing macroeconomic and technological factors, such as fuel and electricity prices, energy consumption, purchasing costs of electric batteries and powertrains, and bus salvage value upon resale. This study provides a multi-option least squares Monte Carlo simulation to help fleet owners in making cost-effective investment decisions, resulting in potential cost savings of up to 10% of the annual total cost of ownership. The results show how the optimal investment choices for fleet replacement change over time. Initially, diesel buses or, at most, compressed natural gas buses are more cost-effective compared to electric technology. However, as electric technology becomes increasingly competitive, internal combustion buses are phased out. Inner-city and urban routes are better suited for the electric transition, whereas the transition may progress more slowly on other route types. Finally, the study shows that, under technological and macroeconomic uncertainties, the duration of contracts can strongly affect the investment decisions.

Short Bio
Giorgio Matteucci is an Associate Professor in Management Engineering at Sapienza University of Rome. He received his M.Sc. degree in Computer Engineering in 2000 and his Ph.D. in Management Engineering in 2004. His teaching and research activities are primarily devoted to industrial economics, cost modeling, and the economic–financial evaluation of investment projects. His scholarly work addresses the analysis of firm behavior in technologically advanced sectors and the development of engineering-based models that support strategic and regulatory decision-making. In recent years, his research has also encompassed the transport sector, with a particular focus on the construction and application of cost models for bus and rail systems. Within this framework, he has investigated the economic implications of adopting alternative vehicle technologies, the long-term financial sustainability of investment decisions, and the influence of network structures and operational configurations on cost dynamics and efficiency levels. Through these contributions, he advances methodologies and tools designed to inform both public policy and managerial decision-making, with the ultimate goal of fostering more efficient, sustainable, and economically viable transport systems. In addition to his academic work, he has conducted studies and analyses on economic, regulatory, and technical issues for several public and private institutions, including the Ministry of Infrastructure and Transport (MIT), Regione Lazio, ANAV - Associazione Nazionale Autotrasporto Viaggiatori, Associazione Trasporti (ASSTRA), BNL - BNP PARIBAS, TIM S.p.A., Vodafone Italia S.p.A., Wind Telecomunicazioni S.p.A., Fastweb S.p.A., Autorità per le Garanzie nelle Comunicazioni (AGCOM), Crediop S.p.A., Poste Italiane S.p.A., ADF - Associazione Distributori Farmaceutici, RAM - Rete Autostrade Mediterranee S.p.A.