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• W3209290013 abstract "Uncertainties concerning low-impact development (LID) practices over its service life are challenges in the adoption of LID. One strategy to deal with uncertainty is to provide an adaptive framework which could be used to support decision-makers in the latter decision on investments and designs dynamically. The authors propose a Bayesian-based decision-making framework and procedure for investing in LID practices as part of an urban stormwater management strategy. In this framework, the investment could be made at various stages of the service life of the LID, and performed with deliberate decision to invest more or suspend the investment, pending the needs and observed performance, resources available, anticipated climate changes, technological advancement, and users’ needs and expectations. Variance learning (VL) and mean-variance learning (MVL) models were included in this decision tool to support handling of uncertainty and adjusting investment plans to maximize the returns while minimizing the undesirable outcomes. The authors found that a risk-neutral investor tends to harbor greater expectations while bearing a higher level of risks than risk-averse investor in the VL model. Constructed wetlands which have a higher prior mean performance are more favorable during the initial stage of LID practices. Risk-averse decision-makers, however, could choose porous pavement with stable performance in the VL model and leverage on potential technological advancement in the MVL model." @default.
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• W3209290013 date "2021-11-02" @default.
• W3209290013 modified "2023-09-26" @default.
• W3209290013 title "A Bayesian Decision Model for Optimum Investment and Design of Low-Impact Development in Urban Stormwater Infrastructure and Management" @default.
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• W3209290013 doi "https://doi.org/10.3389/fenvs.2021.713831" @default.
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