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Roseta-Palma, C. & Xepapadeas, X (2004). Robust control in water management. Journal of Risk and Uncertainty. 29 (1), 21-34
M. C. Palma and A. Xepapadeas, "Robust control in water management", in Journal of Risk and Uncertainty, vol. 29, no. 1, pp. 21-34, 2004
@article{palma2004_1734850706073, author = "Roseta-Palma, C. and Xepapadeas, X", title = "Robust control in water management", journal = "Journal of Risk and Uncertainty", year = "2004", volume = "29", number = "1", doi = "10.1023/B:RISK.0000031443.39763.f0", pages = "21-34", url = "http://link.springer.com/journal/11166/29/1/page/1" }
TY - JOUR TI - Robust control in water management T2 - Journal of Risk and Uncertainty VL - 29 IS - 1 AU - Roseta-Palma, C. AU - Xepapadeas, X PY - 2004 SP - 21-34 SN - 0895-5646 DO - 10.1023/B:RISK.0000031443.39763.f0 UR - http://link.springer.com/journal/11166/29/1/page/1 AB - Since surface water flows are often stochastic, there is a role for water reservoirs in protecting users against uncertainty. We assume uncertainty regarding the probability distribution for the stochastic variable. Thus the decision allows for a range of approximate models that could be true, and the problem can be solved using robust optimal control. This paper analyses the implications of a robust framework on resource management decisions, using the case of water as an illustration. Robust choices are compared with those of a benchmark stochastic model and the emergence of precautionary behaviour is discussed. ER -