期刊名称：American Journal of Industrial and Business Management
印刷版ISSN：2164-5167
电子版ISSN：2164-5175
出版年度：2018
卷号：08
期号：05
页码：1308-1326
DOI：10.4236/ajibm.2018.85089
语种：English
出版社：Scientific Research Publishing
摘要：Optimization of water resource management is very important to reduce water shortage risk and increase economic benefit. Water option can be used as a flexible instrument in water resource management. In this study, chooser options are designed for water managers to buy additional water in drought periods and sell redundant water in wet periods. To make optimal decisions under uncertainties including probability distributions and intervals, an inexact two-stage mixed-integer programming (ITSMIP) model is applied. To illustrate the role of chooser options in water resource management, a case study is presented. Factors which influence the willingness of buying the chooser options are analyzed and the optimal water allocation plans are also provided. The results demonstrate that chooser options can help water managers mitigate the impact of water shortage and increase utilization efficiency of water resource greatly.
