Economic valuation of hydrogeological information when managing groundwater drawdown

Abstract

A procedure is presented for valuation of information analysis (VOIA) to determine the need for additional information when assessing the effect of several design alternatives to manage future disturbances in hydrogeological systems. When planning for groundwater extraction and drawdown in areas where risks-such as land subsidence, wells running dry and drainage of streams and wetlands-are present, the need for risk-reducing safety measures must be carefully evaluated and managed. The heterogeneity of the subsurface calls for an assessment of trade-offs between the benefits of additional information to reduce the risk of erroneous decisions and the cost of collecting this information. A method is suggested that combines existing procedures for inverse probabilistic groundwater modelling with a novel method for VOIA. The method results in (1) a prior analysis where uncertainties regarding the efficiency of safety measures are estimated, and (2) a pre-posterior analysis, where the benefits of expected uncertainty reduction deriving from additional information are compared with the costs for obtaining this information. In comparison with existing approaches for VOIA, the method can assess multiple design alternatives, use hydrogeological parameters as proxies for failure, and produce spatially distributed VOIA maps. The method is demonstrated for a case study of a planned tunnel in Stockholm, Sweden, where additional investigations produce a low number of benefits as a result of low failure rates for the studied alternatives and a cause-effect chain where the resulting failure probability is more dependent on interactions within the whole system rather than on specific features.

Comprehensive risk assessment of groundwater drawdown induced subsidence

“…Additional investigations can be prioritized with means of Value of Information Analysis (VOIA), where the costs for collecting new information are compared with the expected benefits of reduced risk of making an erroneous decision relative to a reference alternative, see e.g. Sundell et al (2019) and Zetterlund et al (2011). Based on the result of the VOIA, additional investigations, the best prior alternative or additional safety measures are prioritized.…”

Automatic Extraction of Web Page Text Information Based on Network Topology Coincidence Degree

“…(1) Search engine: refers to a service-oriented website that can input the desired information conditions in the search interface and extract them [10,11]. Its principle is to find the content consistent with the information according to the information entered by the user, use some algorithms to process and analyze the web page text information, and store it in the database after integration [12]. The original data is characterized by strong relevance and uniform rules.…”

“…In formula (12), a n represents the value of web page text information, b n represents the feature weight of web page text information, and n represents the number of features.…”

Economic Valuation of Lake Tempe Area Resources in Wajo Regency; A Socio-Economic and Ecological Approach

“…Economic valuation is one of the instruments that can be used to calculate the strategic value of the Lake Tempe area in order to increase public and government appreciation and awareness of goods and services produced by natural resources and the environment. Lake/reservoir damage evaluation or economic assessment is the process of identifying, measuring, and determining the economic value of lake damage (Faccioni et al, 2019;Gioglio et al, 2019;Matthew et al, 2019;Najmulmunir et al, 2019;Sundell et al, 2019;Tamsah and Nessa, 2019).…”