Book Review of Determining the Economic Value of Water: Concepts and Methods by Robert A. YoungBook Review of Determining the Economic Value of Water: Concepts and Methods by Robert A. Young

Water has been and will continue to be a contentious issue for policy makers, landowners, municipalities, environmentalists, and citizens who feels they have an undeniable right to clean water delivered to their homes (at least in the United States). With so many groups coming into conflict over what, at least in the West and the Great Plains, continues to be a diminishing resource per capita, an understanding of the economic value of this resource is critical. It is important to note, as Robert Young does throughout his book, that the true economic value of water goes beyond what we pay our city services each month, or the cost to farmers or ranchers for pumping and distributing that water on their land. The value of water must take into account the value of the competing uses which are sometimes difficult to price.

Measuring the Performance of Cooperative Equity Redemption Plans

Cooperatives differ from other businesses in that they are owned by their patrons and net margins are distributed to patrons on the basis of use instead of capital investment. For financing, cooperatives often rely on allocated equities from retained patronage refunds. Retained patronage refunds are noncash allocations of net margins reinvested in a cooperative by patrons. Under an ideal program of equity formation, equity is held by patrons in proportion to patronage. Each patron’s share of financing the cooperative is equal to the share of benefits received. Equities of former patrons are retired as active patrons take on more of the responsibility of financing the organization.

Selection of Switching Sites in All-Optical Nework Topology Design

In this paper, we consider the problem of topology design for optical networks. We investigate the problem of selecting switching sites to minimize total cost of the optical network. The cost of an optical network can be expressed as a sum of three main factors: the site cost, the link cost, and the switch cost. To the best of our knowledge, this problem has not been studied in its general form as investigated in this paper. We present a mixed integer quadratic programming (MIQP) formulation of the problem to find the optimal value of the total network cost. We also present an efficient heuristic to approximate the solution in polynomial time. The experimental results show good performance of the heuristic. The value of the total network cost computed by the heuristic varies within 2% to 21% of its optimal value in the experiments with 10 nodes. The total network cost computed by the heuristic for 51% of the experiments with 10 node network topologies varies within 8% of its optimal value. We also discuss the insight gained from our experiments.