Original title: Using indicators of ecological stability in stochastic programming
Authors: Houda, Michal
Document type: Papers
Conference/Event: Mathematical Methods in Economics 2011, Jánska Dolina (SK), 2011-09-06 / 2011-09-09
Year: 2011
Language: eng
Abstract: When building bigger construction the EU law impose the so-called EIA process - evaluation of possible influences of the construction on the environment and population health, grouped into several categories. Outputs of the EIA process are recommendations to the investors compensating the negative impacts of the constructions by additional arrangements. In our contribution we develop an innovative approach to model the expenses devoted to obey the EIA rules by stochastic programming tools: especially, we represent uncertainty in parameters by their probabilistic distributions, and subjective utility function representing the ecological demands is modelled via so-called indicators of ecological stability. The model takes into account budget limitations, several legislative obligations, and other ecological aspects; the goal is to help choose the optimal compensating constructions and arrangements. The resulting stochastic programming model is seen as parallel to V@R problem.
Keywords: EIA process; indicator of ecological stability; stochastic programming; value-at-risk model
Project no.: CEZ:AV0Z10750506 (CEP), GAP402/10/0956 (CEP)
Funding provider: GA ČR
Host item entry: Mathematical Methods in Economics 2011, ISBN 978-80-7431-058-4

Institution: Institute of Information Theory and Automation AS ČR (web)
Document availability information: Fulltext is available at the institute of the Academy of Sciences.
Original record: http://hdl.handle.net/11104/0203488

Permalink: http://www.nusl.cz/ntk/nusl-126598


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