Optimizing effluent trading and risk management schemes considering dual risk aversion for an agricultural watershed

Increasing amounts of wastewater are discharged to water bodies, with a risk of exceeding their capacity to cope with such loads. Nutrient discharge forms two types of risk, i.e., economic and excess effluent risks. In this study, a Bayesian dual risk aversion based stochastic programming (BDRSP) is proposed for selecting optimal effluent trading and multi-risk management schemes. The BDRSP framework includes uncertain simulation for nutrient …