Optimal and Sustainable Groundwater Extraction
AbstractWith climate change exacerbating over-exploitation, groundwater scarcity looms as an increasingly critical issue worldwide. Minimizing the adverse effects of scarcity requires optimal as well as sustainable patterns of groundwater management. We review the many sustainable paths for groundwater extraction from a coastal aquifer and show how to find the particular sustainable path that is welfare maximizing. In some cases the optimal path converges to the maximum sustainable yield. For sufficiently convex extraction costs, the extraction path converges to an internal steady state above the level of maximum sustainable yield. We describe the challenges facing groundwater managers faced with multiple aquifers, the prospect of using recycled water, and the interdependence with watershed management. The integrated water management thus described results in less water scarcity and higher total welfare gains from groundwater use. The framework also can be applied to climate-change specifications about the frequency, duration, and intensity of precipitation by comparing before and after optimal management. For the case of South Oahu in Hawaii, the prospect of climate change increases the gains of integrated groundwater management.
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Bibliographic InfoArticle provided by MDPI, Open Access Journal in its journal Sustainability.
Volume (Year): 2 (2010)
Issue (Month): 8 (August)
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Web page: http://www.mdpi.com/
sustainability science; groundwater economics; dynamic optimization;
Other versions of this item:
- James Roumasset & Christopher Wada, 2010. "Optimal and Sustainable Groundwater Extraction," Working Papers 201009, University of Hawaii at Manoa, Department of Economics.
- James Roumasset & Christopher Wada, 2010. "Optimal and Sustainable Groundwater Extraction," Working Papers 2010-09, University of Hawaii Economic Research Organization, University of Hawaii at Manoa.
- Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
- Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
- Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
- Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
- Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
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- Veith Becker & Anssi Myrttinen & Johannes A.C. Barth & Peter Bayer, 2011. "A Summary on the Special Issue “Sustainability of Groundwater”," Sustainability, MDPI, Open Access Journal, vol. 3(10), pages 1792-1795, October.
- Susan Randolph & Patrick Guyer, 2011. "Tracking the Historical Evolution of States' Compliance with their Economics and Social Rights Obligations of Result: Insights from the Historical SERF Index," Economic Rights Working Papers 18, University of Connecticut, Human Rights Institute.
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