@article{725418,
      recid = {725418},
      author = {Førsund, Finn R.,},
      title = {Hydropower economics [electronic resource] /},
      pages = {1 online resource.},
      abstract = {Hydropower Economics provides qualitative economic  analyses of how to utilize stored water in a hydropower  system with fixed generating capacities. The problem is  dynamic because water used today to generate electric power  may alternatively be used tomorrow. The distinctive feature  of the book is to provide a social planning perspective on  optimal use of water. This is a prerequisite for  understanding and evaluating newly established electricity  markets. The dynamic nature of hydropower production, the  high number of units involved, and the inherent stochastic  nature of inflow of water make optimization problems quite  difficult technically to solve. In the engineering  literature complex stochastic dynamic programming models  are used and solution algorithms developed for real-life  data, and numerical solutions provided. In this book a much  more simplified mathematical approach suited to obtain  qualitative conclusions is followed. Standard nonlinear  programming models for discrete time are used and the  Kuhn?Tucker conditions employed extensively for qualitative  interpretations. A special graphical presentation, termed a  bathtub diagram, is developed for two-period illustration.  The enlarged edition covers phasing-in of intermittent  energy (run-of-the-river, wind and solar) and the economics  of pumped-storage electricity.},
      url = {http://library.usi.edu/record/725418},
      doi = {https://doi.org/10.1007/978-1-4899-7519-5},
}