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Evaluating Environmental Risks Using Safety-First Constraints

Author

Listed:
  • Zeyuan Qiu
  • Tony Prato
  • Francis McCamley

Abstract

This article incorporates an upper partial moment concept into a linear programming model to impose safety-first environmental constraints. The model is linear and deterministic, treats a discrete sample as an empirical distribution, and optimizes over the column space. It allows a decision maker to specify the objectives and the compliance probabilities with the objectives when making decisions, and endogenously determines the risk levels. Even though it is presented in the context of environmental management, the model is general enough to be extended to other situations where the probability of a variable exceeding some target or standard is restricted. Copyright 2001, Oxford University Press.

Suggested Citation

  • Zeyuan Qiu & Tony Prato & Francis McCamley, 2001. "Evaluating Environmental Risks Using Safety-First Constraints," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(2), pages 402-413.
  • Handle: RePEc:oup:ajagec:v:83:y:2001:i:2:p:402-413
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    File URL: http://hdl.handle.net/10.1111/0002-9092.00165
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    Cited by:

    1. Lokonon, Boris Odilon & Savadogo, Kimseyinga & Mbaye, Ahmadou, 2015. "Assessing the impacts of climate shocks on farm performance and adaptation responses in the Niger basin of Benin," African Journal of Agricultural and Resource Economics, African Association of Agricultural Economists, vol. 10(3), pages 1-16, September.
    2. Cruz, Jose M., 2008. "Dynamics of supply chain networks with corporate social responsibility through integrated environmental decision-making," European Journal of Operational Research, Elsevier, vol. 184(3), pages 1005-1031, February.
    3. Radulescu, Marius & Radulescu, Sorin & Radulescu, Constanta Zoie, 2009. "Sustainable production technologies which take into account environmental constraints," European Journal of Operational Research, Elsevier, vol. 193(3), pages 730-740, March.
    4. Khanal, Kalpana & Henneberry, Shida Rastegari & Taylor, Merritt J. & Schatzer, Raymond Joe & Epplin, Francis M. & Roberts, B. Warren & Edelson, Jonathan V. & Shrefler, Jim, 2008. "Organic and Conventional Vegetable Production in Oklahoma," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6789, Southern Agricultural Economics Association.
    5. Intarapapong, Walaiporn & Hite, Diane, 2003. "Watershed-Level Policies To Implement Best Management Practices Under Environmental Risk," 2003 Annual Meeting, February 1-5, 2003, Mobile, Alabama 35007, Southern Agricultural Economics Association.
    6. Athanasios Kampas & Ben White, 2004. "Administrative Costs and Instrument Choice for Stochastic Non-point Source Pollutants," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 27(2), pages 109-133, February.
    7. Ghosh, Gaurav & Kwasnica, Anthony & Shortle, James, 2010. "A Laboratory Experiment to Compare Two Market Institutions for Emissions Trading," FCN Working Papers 18/2010, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    8. Ofer Zwikael & Mark Ahn, 2011. "The Effectiveness of Risk Management: An Analysis of Project Risk Planning Across Industries and Countries," Risk Analysis, John Wiley & Sons, vol. 31(1), pages 25-37, January.
    9. Cruz, Jose M. & Wakolbinger, Tina, 2008. "Multiperiod effects of corporate social responsibility on supply chain networks, transaction costs, emissions, and risk," International Journal of Production Economics, Elsevier, vol. 116(1), pages 61-74, November.
    10. Intarapapong, Walaiporn & Hite, Diane & Renck, Ashley Wood, 2002. "Environmental Risk Assessment Under Environmental Standard And Safety-First Constraints," 2002 Annual Meeting, July 28-31, 2002, Long Beach, California 36673, Western Agricultural Economics Association.
    11. Enahoro, D. & Schmit, T.M. & Boisvert, R.N., 2016. "Assessment Of New York’S Pollution Discharge Elimination Permits For Cafo’S: A Regional Analysis," Working Papers 250026, Cornell University, Department of Applied Economics and Management.
    12. Apland, Jeffrey & Grainger, Corbett & Strock, Jeffrey, 2004. "Modeling Agricultural Production Considering Water Quality and Risk," Staff Papers 14240, University of Minnesota, Department of Applied Economics.
    13. Matthews, Nicolette & Grove, Bennie, 2015. "Economic-Environmental Trade-offs and the Conservativeness of the Upper Partial Moment," 2015 Conference, August 9-14, 2015, Milan, Italy 212450, International Association of Agricultural Economists.
    14. Marius Rădulescu & Constanta Rădulescu & Gheorghiţă Zbăganu, 2014. "A portfolio theory approach to crop planning under environmental constraints," Annals of Operations Research, Springer, vol. 219(1), pages 243-264, August.

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