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Renewable resource management with stock externalities: Coastal aquifers and submarine groundwater discharge

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  • Pongkijvorasin, Sittidaj
  • Roumasset, James
  • Duarte, Thomas Kaeo
  • Burnett, Kimberly

Abstract

We model coastal groundwater management and its effects on submarine groundwater discharge, nearshore marine water quality, and marine biota. Incorporating the stock externality effects on nearshore resources increases the optimal sustainable steady-state levels of both the aquifer head and the stock of a keystone native algae species. Numerical simulations are illustrated using data from the Kuki'o region on the Island of Hawaii. Two different approaches for incorporating the nearshore resource are examined. Including algae's market value in the objective function results in only slightly lower rates of groundwater extraction. When a minimum constraint is placed on the stock of the keystone species, however, greater conservation may be indicated. The constraint also results in non-monotonic paths of water extraction, head level, and marginal opportunity cost of water in the optimal solution.

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Bibliographic Info

Article provided by Elsevier in its journal Resource and Energy Economics.

Volume (Year): 32 (2010)
Issue (Month): 3 (August)
Pages: 277-291

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Handle: RePEc:eee:resene:v:32:y:2010:i:3:p:277-291

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Web page: http://www.elsevier.com/locate/inca/505569

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Keywords: Groundwater management Marine ecology Dynamic optimization Safe minimum standard Sustainability science;

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Cited by:
  1. Thomas Kaeo Duarte & Sittidaj Pongkijvorasi & James Roumasset & Daniel Amato & Kimberly Burnett, 2010. "Optimal Management of a Hawaiian Coastal Aquifer with Near-Shore Marine Ecological Interactions," Working Papers 201021, University of Hawaii at Manoa, Department of Economics.
  2. James Roumasset & Christopher Wada, 2014. "Integrated Groundwater Resource Management," Working Papers 201414, University of Hawaii at Manoa, Department of Economics.
  3. Encarna Esteban & Ariel Dinar, 2013. "Cooperative Management of Groundwater Resources in the Presence of Environmental Externalities," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 54(3), pages 443-469, March.

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