Evaluating environmental risks using safety-first constraints

Zeyuan Qiu, Tony Prato, Francis McCamley

Research output: Contribution to journalArticlepeer-review

23 Scopus citations

Abstract

This article incorporates an upper partial moment concept into a linear programming model to impose safety-first environmental constraints. The model is linear and deterministic, treats a discrete sample as an empirical distribution, and optimizes over the column space. It allows a decision maker to specify the objectives and the compliance probabilities with the objectives when making decisions, and endogenously determines the risk levels. Even though it is presented in the context of environmental management, the model is general enough to be extended to other situations where the probability of a variable exceeding some target or standard is restricted.

Original languageEnglish (US)
Pages (from-to)402-413
Number of pages12
JournalAmerican Journal of Agricultural Economics
Volume83
Issue number2
DOIs
StatePublished - May 2001
Externally publishedYes

All Science Journal Classification (ASJC) codes

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics and Econometrics

Keywords

  • And nitrogen runoff
  • Chance constrained programming
  • Environmental risk
  • Safety-first
  • Sedimentation
  • Target MOTAD
  • Upper partial moment

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