Water Resources Research · 1982 · 114 citations · 10 references
Natural ResourcesWater Resources ManagementWater Resource ManagementWater Resources EngineeringWater Resources PlanningRobust OptimizationWater ManagementWater Resource EconomicsWater Supply EngineeringWater Supply System AnalysisWater Supply SystemsRobustnessWater Supply Cost AnalysisWater Supply Planning
When water resource systems investments are made there is little assurance that the predicted performance will coincide with the actual performance. Robustness is proposed as a measure of the likelihood that the actual cost of a proposed project will not exceed some fraction of the minimum possible cost of a system designed for the actual conditions that occur in the future. The robustness criterion is illustrated by its application to the planning of water supply systems in southwestern Sweden.
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Risk Aversion in the Small and in the Large
John W. Pratt · Econometrica · 1964 · 4.9K citations
Risk Aversion in the Small and in the Large
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Milton Friedman, Leonard J. Savage · Journal of Political Economy · 1948 · 3.1K citations