AN OPTIMAL CONTROL APPROACH TO WATER QUALITY TRADING: COST-EFFECTIVE POINT/NONPOINT MANAGEMENT IN A WATERSHED FRAMEWORK

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This study reflects a growing interest in water quality trading involving both point and nonpoint sources in a watershed framework. An empirical spatial-temporal optimal control model is presented and solved to assess the scope and implications of point/nonpoint trading. Results indicate significant economic gains to broader based interpretations of trading rules.

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