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Dynamic marginal cost curves to support water resources management.

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Title: Dynamic marginal cost curves to support water resources management.
Authors: Nicolaidis Lindqvist, Andreas1,2,3 (AUTHOR) andreas.nicolaidis@ri.se, Carnohan, Shane1 (AUTHOR), Fornell, Rickard1 (AUTHOR), Tufvesson, Linda2 (AUTHOR), Prade, Thomas2 (AUTHOR), Lindhe, Andreas4 (AUTHOR), Sjöstrand, Karin1 (AUTHOR)
Source: Journal of Environmental Management. Sep2024, Vol. 368, pN.PAG-N.PAG. 1p.
Subjects: Water management, Direct costing, Water shortages, Environmental management, Environmental policy
Abstract: Marginal cost curves (MCCs) are popular decision-support tools for assessing and ranking the cost-effectiveness of different options in environmental policy and management. However, conventional MCC approaches have been criticized for lack of transparency and disregard for complexity; not accounting for interaction effects between measures; ignoring ancillary benefits and costs; and not considering intertemporal dynamics. In this paper, we present an approach to address these challenges using a system dynamics (SD)-based model for producing dynamic MCCs. We describe the approach by applying it to evaluate efforts to address water scarcity in a hypothetical, but representative, Swedish city. Our results show that the approach effectively addresses all four documented limitations of conventional MCC methods. They also show that combining MCCs with behavior-over-time graphs and causal-loop diagrams can lead to new policy insights and support a more inclusive decision-making process. [Display omitted] • A system dynamics-based approach for producing marginal cost curves calculations is presented. • The approach is applied to evaluate water scarcity mitigation measures. • Key limitations of conventional marginal cost curve methods are addressed. • The approach opens for new policy insights and a more inclusive decision-making process. [ABSTRACT FROM AUTHOR]
Copyright of Journal of Environmental Management is the property of Academic Press Inc. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Database: Engineering Source
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Header DbId: egs
DbLabel: Engineering Source
An: 179371266
AccessLevel: 6
PubType: Academic Journal
PubTypeId: academicJournal
PreciseRelevancyScore: 0
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  Data: Dynamic marginal cost curves to support water resources management.
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  Data: <searchLink fieldCode="DE" term="%22Water+management%22">Water management</searchLink><br /><searchLink fieldCode="DE" term="%22Direct+costing%22">Direct costing</searchLink><br /><searchLink fieldCode="DE" term="%22Water+shortages%22">Water shortages</searchLink><br /><searchLink fieldCode="DE" term="%22Environmental+management%22">Environmental management</searchLink><br /><searchLink fieldCode="DE" term="%22Environmental+policy%22">Environmental policy</searchLink>
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  Data: Marginal cost curves (MCCs) are popular decision-support tools for assessing and ranking the cost-effectiveness of different options in environmental policy and management. However, conventional MCC approaches have been criticized for lack of transparency and disregard for complexity; not accounting for interaction effects between measures; ignoring ancillary benefits and costs; and not considering intertemporal dynamics. In this paper, we present an approach to address these challenges using a system dynamics (SD)-based model for producing dynamic MCCs. We describe the approach by applying it to evaluate efforts to address water scarcity in a hypothetical, but representative, Swedish city. Our results show that the approach effectively addresses all four documented limitations of conventional MCC methods. They also show that combining MCCs with behavior-over-time graphs and causal-loop diagrams can lead to new policy insights and support a more inclusive decision-making process. [Display omitted] • A system dynamics-based approach for producing marginal cost curves calculations is presented. • The approach is applied to evaluate water scarcity mitigation measures. • Key limitations of conventional marginal cost curve methods are addressed. • The approach opens for new policy insights and a more inclusive decision-making process. [ABSTRACT FROM AUTHOR]
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  Data: <i>Copyright of Journal of Environmental Management is the property of Academic Press Inc. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
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        Value: 10.1016/j.jenvman.2024.122004
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        Text: English
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        PageCount: 1
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      – SubjectFull: Water management
        Type: general
      – SubjectFull: Direct costing
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      – SubjectFull: Water shortages
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      – SubjectFull: Environmental management
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              M: 09
              Text: Sep2024
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