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An uncertainty-based smart market model for groundwater management
This paper presents a new water market mechanism, which can be used for selecting the best trading policy by incorporating the uncertainties of total annual available water and wholesale price of agricultural products. In this mechanism, water users are asked to submit bid packages via a web-based platform. A bid package represents the real values that a user puts on different quantities of withdrawn groundwater considering its quality. Then, the most reliable water trading policy as well as the price of water are calculated by taking the market endogenous and exogenous uncertainties into account using the regret theory. The results show that by applying the proposed uncertainty-based smart groundwater market mechanisms to the Nough Plain in Iran, the average productivity of water users increases about 18% compared to the status quo condition. Furthermore, based on the outputs of the proposed market model, groundwater is finally distributed to agricultural users almost proportional to their farm's area. HIGHLIGHTS A new smart groundwater market mechanism is proposed for groundwater management.; The market endogenous and exogenous uncertainties are considered in this mechanism.; The most reliable water trading policy and price of water are calculated using the regret theory.; The methodology is evaluated using available data from the Nough Plain in Iran.; The proposed mechanism increases the average water productivity of users.;
An uncertainty-based smart market model for groundwater management
This paper presents a new water market mechanism, which can be used for selecting the best trading policy by incorporating the uncertainties of total annual available water and wholesale price of agricultural products. In this mechanism, water users are asked to submit bid packages via a web-based platform. A bid package represents the real values that a user puts on different quantities of withdrawn groundwater considering its quality. Then, the most reliable water trading policy as well as the price of water are calculated by taking the market endogenous and exogenous uncertainties into account using the regret theory. The results show that by applying the proposed uncertainty-based smart groundwater market mechanisms to the Nough Plain in Iran, the average productivity of water users increases about 18% compared to the status quo condition. Furthermore, based on the outputs of the proposed market model, groundwater is finally distributed to agricultural users almost proportional to their farm's area. HIGHLIGHTS A new smart groundwater market mechanism is proposed for groundwater management.; The market endogenous and exogenous uncertainties are considered in this mechanism.; The most reliable water trading policy and price of water are calculated using the regret theory.; The methodology is evaluated using available data from the Nough Plain in Iran.; The proposed mechanism increases the average water productivity of users.;
An uncertainty-based smart market model for groundwater management
Soroush Sharghi (author) / Reza Kerachian (author)
2022
Article (Journal)
Electronic Resource
Unknown
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