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Some Problems of Prioing under Stochastic Supply Conditions: The Case of Seasonal Pricing for Water Supply
Author(s) -
Crew M. A.,
Roberts G.
Publication year - 1970
Publication title -
water resources research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.863
H-Index - 217
eISSN - 1944-7973
pISSN - 0043-1397
DOI - 10.1029/wr006i005p01272
Subject(s) - water supply , stochastic modelling , investment (military) , economics , econometrics , mathematical optimization , computer science , environmental science , mathematics , environmental engineering , finance , politics , political science , law
Two models of seasonal pricing, a deterministic supply model and a stochastic supply model, are used to solve the problem of pricing and investment in water supply under certain assumptions. The stochastic model provides prices for one period. Extensions to more periods might be achieved through numerical methods and the aid of computers.