search query: @indexterm opportunity costs / total: 47
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| Author: | Azaiez, M. N. |
| Title: | A model for conjunctive use of ground and surface water with opportunity costs |
| Journal: | European Journal of Operational Research
2002 : DEC, VOL. 143:3, p. 611-624 |
| Index terms: | DECISION MAKING OPPORTUNITY COSTS MODELS |
| Language: | eng |
| Abstract: | In this study, the authors develop a multi-stage decision model for the conjunctive use of ground and surface water with an artificial recharge. The authors assume a certain supply and a random demand. The authors explicitly integrate opportunity costs for the unsatisfied demand. The authors also incorporate in the model the importance weight attributed by the decision-makers to the final groundwater level at the end of the planning horizon. The authors show, under some mild assumptions, that the problem can be formulated as a convex program with linear constraints. The authors illustrate the methodology through a hypothetical example, and discuss the optimal decision policy and its sensitivity to a number of factors. |
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