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Groundwater And Economics: Gisser-Sanchez's Effect Reconsidered

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  • Phoebe Koundouri

Abstract

This chapter provides a critical review of the theoretical and empirical literature on groundwater economics. In particular, it points at various misconceptions, inaccuracies and omissions of the current state of the literature that could potentially resolve part of a paradoxical empirical result, which persists in this literature. This result points to an insignificant numerical magnitude of benefits from optimally managing groundwater, even when aquifers are seriously depleted.

Suggested Citation

  • Phoebe Koundouri, 2009. "Groundwater And Economics: Gisser-Sanchez's Effect Reconsidered," DEOS Working Papers 0905, Athens University of Economics and Business.
    • Handle: RePEc:aue:wpaper:0905
    as

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    File URL: http://wpa.deos.aueb.gr/docs/GISSER.SANCHEZS.EFFECT.RECONSIDERED.pdf
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    References listed on IDEAS

    as
    1. Worthington, Virginia E. & Burt, Oscar R. & Brustkern, Richard L., 1985. "Optimal management of a confined groundwater system," Journal of Environmental Economics and Management, Elsevier, vol. 12(3), pages 229-245, September.
    2. Koundouri, Phoebe, 2000. "Three approaches to measuring natural resource scarcity: theory and application to groundwater," MPRA Paper 38265, University Library of Munich, Germany.
    3. Bill Provencher & Oscar Burt, 1994. "A Private Property Rights Regime for the Commons: The Case for Groundwater," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(4), pages 875-888.
    4. Kun C. Lee & Cameron Short & Earl O. Heady, 1981. "Optimal Groundwater Mining in the Ogallala Aquifer: Estimation of Economic Losses and Excessive Depletion Due to Commonality," Center for Agricultural and Rural Development (CARD) Publications 81-wp1, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    5. Jay E. Noel & B. Delworth Gardner & Charles V. Moore, 1980. "Optimal Regional Conjunctive Water Management," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(3), pages 489-498.
    6. Lee, Kun C. & Short, Cameron & Heady, Earl O., 1981. "Optimal Groundwater Mining In The Ogallala Aquifer: Estimation Of Economic Losses And Excessive Depletion Due To Commonality," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279261, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Kim, C. S. & Moore, Michael R. & Hanchar, John J. & Nieswiadomy, Michael, 1989. "A dynamic model of adaptation to resource depletion: theory and an application to groundwater mining," Journal of Environmental Economics and Management, Elsevier, vol. 17(1), pages 66-82, July.
    Full references (including those not matched with items on IDEAS)

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