Memorias de investigación
Artículos en revistas:
Optimization of water procurement decisions in an irrigation district: the role of option contracts
Año:2015
Áreas de investigación
  • Agricultura
Datos
Descripción
Water supply instability is one of the main risks faced by irrigation districts and farmers. Water procurement decision optimisation is essential in order to increase supply reliability and reduce costs. Water markets, such as spot purchases or water supply option contracts, can make this decision process more flexible. We analyse the potential interest in an option contract for an irrigation district that has access to several water sources. We apply a stochastic recursive mathematical programming model to simulate the water procurement decisions of an irrigation district?s board operating in a context of water supply uncertainty in south-eastern Spain. We analyse what role different option contracts could play in securing its water supply. Results suggest that the irrigation district would be willing to accept the proposed option contract in most cases subject to realistic values of the option contract financial terms. Of nine different water sources, desalination and the option contract are the main substitutes, where the use of either depends on the contract parameters. The contract premium and optioned volume are the variables that have a greater impact on the irrigation district?s decisions. Key words: Segura Basin, stochastic recursive programming, water markets, water supply option contract, water supply risk.
Internacional
Si
JCR del ISI
Si
Título de la revista
Australian Journal of Agricultural And Resource Economics
ISSN
1364-985X
Factor de impacto JCR
1,065
Información de impacto
Volumen
1
DOI
Número de revista
60
Desde la página
130
Hasta la página
154
Mes
SIN MES
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Participantes
  • Autor: Dolores Rey Cranfield Water Science Institute, Cranfield University (UK).
  • Autor: Javier Calatrava Universidad Politécnica de Cartagena
  • Autor: Alberto Garrido Colmenero UPM
Grupos de investigación, Departamentos, Centros e Institutos de I+D+i relacionados
  • Creador: Grupo de Investigación: Economía Agraria y Gestión de los Recursos Naturales
  • Departamento: Economía Agraria, Estadística y Gestión de Empresas
  • Centro o Instituto I+D+i: Centro de Estudios e Investigación para la Gestión de Riesgos Agrarios Medioambientales (CEIGRAM). Centro Mixto UPM-AGROMUTUA-ENESA