Abstract
The uncertainties of economic factors in the evaluation of a water resource project are receiving more and more attention from researchers and policymakers. This paper proposes a probabilistic procedure based on the concept of stochastic dominance to evaluate the economic merit of water resources projects whose project benefits and costs are subject to uncertainty. An example using the Cache la Poudre River Basin development in Colorado illustrates the procedure.
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Tung, YK., Wang, PY. & Yang, JC. Water resource projects evaluation and ranking under economic uncertainty. Water Resour Manage 7, 311–333 (1993). https://doi.org/10.1007/BF00872287
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DOI: https://doi.org/10.1007/BF00872287