Market-based stochastic optimization of water resources systems for improving drought resilience and economic efficiency in arid regions

Efficient reallocation and conjunctive operation of existing water supplies have been receiving increasing attention as the competition among water users are intensified in worldwide. In this paper, a market-based stochastic optimization model is developed to address inherent uncertainties and complexities in water resources planning in arid regions. This model can be used not only to explore the water conservation potential via three …