Water Supply Vol 5 No 3-4 pp 9–16 © IWA Publishing 2005
Design of water allocation model: efficiency and risk aspects
C. Kim* and D. Han**
*Korea Research Institute for Human Settlements, 1591-6 Kwanyang-dong, Tongan-gu, Anyang-shi, Kyonggi-do 431–712, Korea
**Department of Economics & Finance, Yeungnam University, 214-1 Dae-dong, Gyeongsan-si, Gyeongsangbuk-do, Seoul 712–749, Korea
ABSTRACT
The primary objective of this study is to improve the methodology for water allocation focused on efficiency and risk aspects. To attain the primary objective, this study sets up an objective function to maximize social expected benefits, and considers three types of allocation methods. Three types of allocation methods are optimal, proportional, and fixed allocation between regions and service sectors. The results of case study area shows that the fixed allocation method is preferred to the proportional allocation in most cases except that the variance of flow is small with respect to efficiency. Also, efficient and less-risky allocation is simultaneously obtained in some cases, while efficiency and risk show the relation of trade-off in other cases. Keywords Allocation; efficiency; risk
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