Abstract:

Water is getting a more and more scarce resource, which motivates the idea of designing a framework where water rights may be exchanged more freely, thus leading to a more efficient use of water. In this paper, we present a water-right market embedded within a decision support tool designed as a multi-agent system. To our knowledge, there are many sophisticated decision support systems for water management from a hydrological perspective, but they lack of a social perspective. Using a multi-agent system allows us to design intelligent agents that mimic humans, thus implementing different factors such as (mis)conducts, trust criteria and users willingness to water-right trading. Within a decision support tool, we can dynamically change norms and regulation at no cost, and explore the impact on the evolution of the market.
Mixing all these elements together, we have implemented our \emph{mWater} system as an electronic institution that demonstrates very appealing for decision taking and policy makers to test: i) how regulations and norms may modify the users' behaviour, and ii) how the quality indicators of the market are affected.

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Abstract:

Water is getting a more and more scarce resource, which motivates the idea of designing a framework where water rights may be exchanged more freely, thus leading to a more efficient use of water. In this paper, we present a water-right market embedded within a decision support tool designed as a multi-agent system. To our knowledge, there are many sophisticated decision support systems for water management from a hydrological perspective, but they lack of a social perspective. Using a multi-agent system allows us to design intelligent agents that mimic humans, thus implementing different factors such as (mis)conducts, trust criteria and users willingness to water-right trading. Within a decision support tool, we can dynamically change norms and regulation at no cost, and explore the impact on the evolution of the market.
Mixing all these elements together, we have implemented our mWater system as an electronic institution that demonstrates very appealing for decision taking and policy makers to test: i) how regulations and norms may modify the users' behaviour, and ii) how the quality indicators of the market are affected.

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Abstract:

Water is an essential and scarce resource. This motivates the development of technologies to make water use more efficient. One such proposal has been to deploy institutional frameworks, (referred to as water banks) where water rights may be exchanged more freely and thus foster better water use. Needless to say that good water management is a complex endeavor and the decision to enable a water bank is but one of many actions that policy-makers may take. However, having a water bank is a specially useful device. Once a water bank is enabled, policy-makers may regulate how trading is made and by so doing, have a direct influence on demand and with that foster a good use of water. In this paper, we present a decision-support environment constructed around a water-rights market. It is designed so that policy-makers may explore the interplay between i) market regulations, ii) trader profiles and market composition, and iii) the aggregated outcomes of trading under those set conditions. Our environment is designed as a multi-agent system that implements market regulations and is enabled with tools to specify performance indicators, to spawn agent populations and allow humans as well as software agents to participate in simulations of virtual trading.

Notes:

springerlink:10.1007/978-3-642-27216-5_4

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