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Robust Control in Water Management

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  • Catarina Roseta-Palma
  • Anastasios Xepapadeas

Abstract

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.

Suggested Citation

  • Catarina Roseta-Palma & Anastasios Xepapadeas, 2004. "Robust Control in Water Management," Journal of Risk and Uncertainty, Springer, vol. 29(1), pages 21-34, July.
    • Handle: RePEc:kap:jrisku:v:29:y:2004:i:1:p:21-34
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