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Tradable Water Rights System Optimization for Efficient Water Resources Allocation

In: Operational Research in the Era of Digital Transformation and Business Analytics

Author

Listed:
  • Athanasios E. Tsiarapas

    (Aristotle University of Thessaloniki)

  • Zisis Mallios

    (Aristotle University of Thessaloniki)

Abstract

In recent years in many areas of the Earth there have been observed problems related to water shortages. These problems are mainly due to inefficient water use and failed public policies to manage it. The publication of the Directive 2000/60 EC by the European Union and the declaration of the Dublin Principles for water recognize water as an economic good, thus allowing the use of economic instruments to manage it. One of these instruments is tradable water rights, which are considered to increase water efficiency. This paper presents an optimization model for the allocation of water to competing users which is based on tradable water rights and takes into account the social, environmental and economic parameters related to water resources and their management. The resolution of the model shows the effectiveness of this instrument in terms of attributing to water the greatest possible economic value but also its weaknesses related mainly to social issues.

Suggested Citation

  • Athanasios E. Tsiarapas & Zisis Mallios, 2023. "Tradable Water Rights System Optimization for Efficient Water Resources Allocation," Springer Proceedings in Business and Economics, in: Nikolaos F. Matsatsinis & Fotis C. Kitsios & Michael A. Madas & Maria I. Kamariotou (ed.), Operational Research in the Era of Digital Transformation and Business Analytics, pages 11-19, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-24294-6_2
    DOI: 10.1007/978-3-031-24294-6_2
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