Optimal Allocation of Stochastic Water Supply

by Warren A. Hall, (M.ASCE), Dir.; Dry-Lands Res. Inst., Univ. of California, Riverside, CA,
David T. Howell, School of Civ. Engr.; Univ. of New South Wales, Kensington, NSW,

Serial Information: Journal of the Irrigation and Drainage Division, 1970, Vol. 96, Issue 4, Pg. 395-402

Document Type: Journal Paper

Discussion: Kazmann Raphael G. (See full record)

Abstract: The optimal allocation of a stochastic water supply has proved to be an extremely complex problem because of the effects of risk on certain high-value production alternatives involving high investments and deferred returns, e.g., perennial crops requiring 5 to 10 years to reach full production. It is shown that by allocating the degree of assurance of supply rather than water itself as a primary resource, followed by water allocation within each level of assurance, the allocation becomes quite tractable.

Subject Headings: Water supply | Water resources | Stochastic processes | Risk management | Investments | Crops |

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