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Water Management, Risk, and Uncertainty: Things We Wish We Knew in the 21st Century
| Content Provider | Semantic Scholar |
|---|---|
| Author | Shaw, William Douglass Woodward, Richard T. |
| Copyright Year | 2010 |
| Abstract | A survey is offered of the most difficult and challenging issues to water managers in the 21 Century, focusing on the economics of risks and more so, uncertainty. Risk and uncertainty is addressed a great deal here because so many water management and policy issues involve them, as will be seen below. It is deemed unwise for the water community to model decisions as if there was certainty. For example, traditional decision models that assume certainty often require that the present value of known net benefits be maximized, when in fact it may be that benefits, costs, and the discount are all actually unknown, or at least involve risk. |
| Starting Page | 1 |
| Ending Page | 15 |
| Page Count | 15 |
| File Format | PDF HTM / HTML |
| DOI | 10.2139/ssrn.1808121 |
| Alternate Webpage(s) | http://ageconsearch.umn.edu/record/176392/files/WEF-Vol.9-No.2-Fall2010R_Shaw.pdf |
| Alternate Webpage(s) | http://agecon2.tamu.edu/people/faculty/shaw-douglass/wef.pdf |
| Alternate Webpage(s) | https://doi.org/10.2139/ssrn.1808121 |
| Volume Number | 09 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
