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Valuing Water Supply Reliability

Ronald C. GriffinJames W. Mjelde

出版	SSRN, 2010
URL	http://books.google.com.hk/books?id=dejdzwEACAAJ&hl=&source=gbs_api

註釋

Instead of creating water supply systems that fully insulate mankind from climate-imposed water deficiencies, it is possible that for municipal water systems a nonzero probability of water supply shortfall is efficient. Perfect water supply reliability, meaning no chance of future shortfall, is not optimal when water development costs are high. Designing an efficient strategy requires an assessment of consumer preferences pertaining to the reliability of water supply. Contingent valuations of both current and future shortfalls are reported. The consistency of these measures is gauged using an expected utility model.