International Journal of Engineering and Technology

The application of hedging rules in reservoir operation is one of the important advances in the field of reservoir operation studies during the past three decades. The objectives of this paper are (a) to provide a comprehensive review of the different type of hedging models, and (b) to provide some directions for future research. The models are compared from a general perspective and suitability for practical applications. This review paper is expected to provide a quick and improved understanding with criticism of the different hedging rules and their implications in decision support.