Water Network Design Using a Multiobjective Real Options Framework
Joint Authors
Marques, João
Cunha, Maria
Savić, Dragan
Giustolisi, Orazio
Source
Issue
Vol. 2017, Issue 2017 (31 Dec. 2017), pp.1-13, 13 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2017-01-31
Country of Publication
Egypt
No. of Pages
13
Main Subjects
Abstract EN
Water distribution networks (WDNs) are an essential element of urban infrastructure.
To achieve a good level of performance, the traditional design of WDNs based on expected future conditions should be replaced by a flexible design, using real options (ROs), that accounts for uncertainty by taking a broader view of possible future options.
This work proposes a multiobjective ROs framework that sets out to reduce costs, minimize hydraulic pressure deficiency, and a third objective for minimizing carbon emissions.
A multiobjective simulated annealing algorithm is used to identify the Pareto-optimal solutions, thus enabling a trade-off analysis between solutions.
These trade-offs show that a low pressure deficit solution is achieved by increasing investment at a much faster rate after a certain pressure deficit threshold (60 m).
Also, the pressure deficits can only be reduced by increasing carbon emissions.
Finally, this work also emphasizes the importance of including carbon emissions as a specific objective by comparing the results of the proposed model and another one that did not cover the environmental objective.
The results show that it is possible to reduce CO2 for the same level of capital expenditure or the same level of network pressure deficits if carbon emissions are minimized in the optimization process.
American Psychological Association (APA)
Marques, João& Cunha, Maria& Savić, Dragan& Giustolisi, Orazio. 2017. Water Network Design Using a Multiobjective Real Options Framework. Journal of Optimization،Vol. 2017, no. 2017, pp.1-13.
https://search.emarefa.net/detail/BIM-1185908
Modern Language Association (MLA)
Marques, João…[et al.]. Water Network Design Using a Multiobjective Real Options Framework. Journal of Optimization No. 2017 (2017), pp.1-13.
https://search.emarefa.net/detail/BIM-1185908
American Medical Association (AMA)
Marques, João& Cunha, Maria& Savić, Dragan& Giustolisi, Orazio. Water Network Design Using a Multiobjective Real Options Framework. Journal of Optimization. 2017. Vol. 2017, no. 2017, pp.1-13.
https://search.emarefa.net/detail/BIM-1185908
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1185908