To cope with the urban congestion problem resulted from rapid urbanization some cities are successfully using Electronic Road Pricing policy as a demand management measure. In 1982, Hong Kong Governmenttook initiative to experiment electronic road pricing in Hong Kong. Though, the project outcome reveals that Electronic Road Pricing could bring tremendous economic, social and environmental bene...

In this paper, a basic theoretical model of residential water consumption that adequately represents consumer behavior when facing a nonlinear budget constraint is developed. The theoretical model for an individual consumer is adapted to yield an aggregate model that essentially preserves the structure of the demand function for the individual. The model is used to study the influence of prices...

Twentieth-century water policies relied on the construction of massive infrastructure in the form of dams, aqueducts, pipelines, and complex centralized treatment plants to meet human demands. These facilities brought tremendous benefits to billions of people, but they also had serious and often unanticipated social, economical, and ecological costs. Many unsolved water problems remain, and pas...

Rapidly growing populations and migration to urban areas in developing countries has resulted in a vital need for the establishment of centralized water systems to disseminate potable water to residents. Protected source water and modern, well-maintained drinking water treatment plants can provide water adequate for human consumption. However, ageing, stressed or poorly maintained distribution ...

In this paper, we develop a dynamic Bertrand model of competition among hydroelectric (hydro) generators. Unlike other competitors in electricity generation markets, hydro generators’ current pricing decisions affect their future productive capacity through their impact on available water reserves. Our model assumes that each player uses a Markov strategy based on the current state of water res...

An agronomic crop growth model—the Decision Support System for Agro-Technology Transfer—and a constant relative risk aversion utility function are used to examine corn irrigation strategies in Mitchell County, Georgia. Precipitation contracts are designed to help farmers manage risk. Three conclusions originate from the findings. First, the optimal irrigation strategy can greatly increase produ...

Availability: Public (only once status above is "Accepted") The question whether marginal cost pricing should be applied in the transportation sector has attained a great deal of attention during the last few years. It is argued that marginal cost pricing, or marginal social cost pricing – a term used when one wishes to emphasise that the pricing is applied by a government / regulator – would s...

capital asset pricing model (capm) has been among the common models to estimate expected returns rate. since the linearity assumption is considered in the standard version of the capital asset pricing model, estimating beta in nonlinear setting will be inconsistent and bias-oriented. therefore, this study tries to evaluate predictive power of nonlinear capital asset pricing model as well as sta...

Stochastic optimization is used to estimate the willingness-to-pay WTP of individual households and groups of households for changes in a combination of probabilistic water supply reliability and retail price of water. By modeling the financial and “perceived” costs of implementing longand short-term conservation options and assuming rational expected value cost minimizing behavior, economic de...