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Author |
Compernolle, T.; Van Passel, S.; Lebbe, L. |
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Title |
The value of groundwater modeling to support a pump and treat design |
Type |
A1 Journal article |
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Year  |
2013 |
Publication |
Groundwater monitoring & remediation |
Abbreviated Journal |
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Volume |
33 |
Issue |
3 |
Pages |
111-118 |
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Keywords |
A1 Journal article; Economics |
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Abstract |
A wide range of rules, algorithms, and models are available to design an effective pump and treat remediation system. Often, one refers to the effectiveness of the developed pump and treat system to demonstrate how valuable the use of a groundwater model can be. An economic valuation of the groundwater model is usually missing. This study provides a framework that puts the discussion concerning the use of groundwater models in an economic perspective. It is not only demonstrated that a more effective pump and treat system can be designed using a groundwater model, but also the economic implications of using a groundwater model are calculated. A set of economic decision rules is applied to determine the economic value of a groundwater model. It is shown that investing in a groundwater model can be economically worthwhile. The remediation time is reduced, remediation costs are saved and the property can be sold more early. These benefits outweigh the costs of developing a groundwater model, and hence a positive net benefit (NB) is determined. |
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Wos |
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Publication Date |
2018-03-05 |
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Additional Links |
UA library record |
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Times cited |
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Open Access |
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Notes |
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Approved |
Most recent IF: NA |
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Call Number |
UA @ admin @ c:irua:129867 |
Serial |
6277 |
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Author |
Compernolle, T.; Van Passel, S.; Lebbe, L. |
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Title |
Bioremediation : how to deal with removal efficiency uncertainty? An economic application |
Type |
A1 Journal article |
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Year |
2013 |
Publication |
Journal Of Environmental Management |
Abbreviated Journal |
J Environ Manage |
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Volume |
127 |
Issue |
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Pages |
77-85 |
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Keywords |
A1 Journal article; Economics |
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Abstract |
Bioremediation is a remediation strategy, which has considerable strength but also certain limitations. Complex and uncertain relationships among biomass, contaminants, and nutrients lead to an uncertain level of removal efficiency. The uncertainty inherent to a bioremediation strategy should be addressed in the remediation selection process. In order to evaluate the bioremediation strategy economically, this study takes into account the reversibility of a decision. A decision tree structures the different remediation strategies, thus giving the possible courses of action open to the decision maker. The option value indicates the importance of having the possibility to reverse a previously made decision. Compared with conventional economic evaluation tools, more information to ground the selection made is revealed. |
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Wos |
000322940100010 |
Publication Date |
2013-05-15 |
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Edition |
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ISSN |
0301-4797 |
ISBN |
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Additional Links |
UA library record; WoS full record; WoS citing articles |
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Impact Factor |
4.01 |
Times cited |
1 |
Open Access |
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Notes |
; ; |
Approved |
Most recent IF: 4.01; 2013 IF: 3.188 |
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Call Number |
UA @ admin @ c:irua:129868 |
Serial |
6162 |
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| Permanent link to this record |
