Optimal irrigation management strategies under weather uncertainty and risk

Strauss, F., Heumesser, C., Fuss, S., Szolgayova, J., & Schmid, E. (2011). Optimal irrigation management strategies under weather uncertainty and risk. Journal of the Austrian Society of Agricultural Economics 20 (2) 45-54.

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Abstract

Climate change will affect agricultural production through changes in water supply, such that optimal irrigation management strategies gain importance. For the Marchfeld region, we firstly analyze with a stochastic dynamic programming approach the probability of investing into either a water-saving drip or a sprinkler irrigation system until 2040. Secondly, we develop optimal irrigation management portfolios for different degrees of risk aversion using climate data from a statistical model and the simulations for specific crops of the biophysical process model EPIC (Environmental Policy Integrated Climate). Investment in drip irrigation systems is not profitable. Sprinkler irrigation has a positive probability of being adopted for the production of sugar beets and carrots and therefore mostly shows a 100% share in the portfolio optimization.

Item Type:	Article
Uncontrolled Keywords:	Irrigation management; Precipitation uncertainty; EPIC; Stochastic dynamic programming approach; Portfolio Optimization
Research Programs:	Ecosystems Services and Management (ESM)
Bibliographic Reference:	Journal of the Austrian Society of Agricultural Economics; 20(2):45-54 (September 2011)
Depositing User:	IIASA Import
Date Deposited:	15 Jan 2016 08:45
Last Modified:	27 Aug 2021 17:39
URI:	https://pure.iiasa.ac.at/9490

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