Journal
JOURNAL OF ENVIRONMENTAL MANAGEMENT
Volume 309, Issue -, Pages -Publisher
ACADEMIC PRESS LTD- ELSEVIER SCIENCE LTD
DOI: 10.1016/j.jenvman.2022.114679
Keywords
Risk aversion; Robust optimization; Stochastic programming; Two-dimensional water trading; Uncertainty analysis; Water crisis
Categories
Funding
- National Natural Science Foundation of China [51809145, 42007412]
- General program of Natural Science Foundation of Hebei Province [D2019402235]
- National College Students Innovation and Entrepreneurship Training Program of China [202011065220]
- National Science and Technology Major Project of China [2018ZX07105-002]
- Ministry of Education Humanity and Social Science [18YJC630152]
- Science and Technology Support Plan for Youth Innovation of Colleges in Shandong Province [DC2000000961]
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This study develops a risk aversion optimization-two dimensional water trading model for planning the regional-scale water resources management system. The results show that the 2DWT mechanism can bring high benefits with reduced risk cost, water deficit, and emissions, but risk aversion behavior may lead to some losses of system benefit.
Water related problems, including water scarcity and pollution, have become increasingly urgent challenges especially in arid and semiarid regions. Two-dimensional water trading (2DWT) mechanism has been designed to unify the quantity and quality of water for relieving the water crisis. This study aims to develop a risk aversion optimization-two dimensional water trading model (RAO-2DWTM) for planning the regional-scale water resources management system (RWMS). This is the first attempt on planning RWMS through risk aversion optimization within the two-dimensional water trading framework. RAO-2DWTM cannot only support in-depth analysis regarding the effect of decision maker's preferences on system risk in different trading scenarios, but also reflect the interaction between water right trading and effluent trading, as well as disclose the optimal scheme of water resource management under uncertainties. Twenty four scenarios associated with different trading scenarios and robust levels are analyzed. The optimization scheme under the optimal risk control level is determined based on TOPSIS. Results revealed that 2DWT would bring high benefit with reduced risk cost, water deficit and emissions, implying the effectiveness of 2DWT mechanism. The results also disclosed that risk aversion behavior can mitigate water scarcity and pollution, as well as reduce risk cost, but may lead to some losses of system benefit. Consequently, decision makers should make trade-offs between system benefit and risk in identifying desired trading schemes.
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