Allocating Resources in an Uncertain World: Water Management and Endangered Species
构建了一个纯不确定性下的水资源最优分配经济模型，特别关注河流流量对具有临界滞后的濒危物种的影响，并采用稳健控制方法处理决策者无法将不确定性简化为唯一概率分布的问题。
Abstract Instream flows may be essential in protecting aquatic species that are threatened or endangered. An economic model of the optimal allocation of water under pure uncertainty is developed, with particular attention paid to the situation when a species characterized by critical depensation is affected by instream flows. We adopt the notion of pure uncertainty that Frank Knight and Daniel Ellsberg intended, which applies when decision makers cannot reduce their uncertainty to a unique probability distribution. Following recent work by Hansen, Sargent, and others, we employ robust control as a way to deal with this problem.