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COSTS OF CALIFORNIA's CORRELATIVE RIGHTS DOCTRINE AS A SOLUTION TO GROUNDWATER OVERDRAFT

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  • NATHAN ERIC HAMPTON

Abstract

This paper reports the present value of groundwater use under alternative institutional structures for the eastern portion of California's San Joaquin Valley. The Gisser‐Sanchez model, with data from the California Department of Water Resources, produced these results. The paper, through the use of an optimal control model, shows that private property rights outperform common property rights as an institutional guide to groundwater use. Furthermore, the paper shows that adjudicating groundwater rights under claim of adverse possession gives rise to a discounted flow of future income which, when compared with that of common property, gives the incentive to adjudicate groundwater rights.

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  • Nathan Eric Hampton, 1990. "COSTS OF CALIFORNIA's CORRELATIVE RIGHTS DOCTRINE AS A SOLUTION TO GROUNDWATER OVERDRAFT," Contemporary Economic Policy, Western Economic Association International, vol. 8(4), pages 106-117, October.
    • Handle: RePEc:bla:coecpo:v:8:y:1990:i:4:p:106-117
    DOI: 10.1111/j.1465-7287.1990.tb00305.x
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    5. O. R. Burt & R. G. Cummings & J. W. McFarland, 1977. "Defining Upper Limits to Groundwater Development in the Arid West," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 59(5), pages 943-947.
    6. Eli Feinerman & Keith C. Knapp, 1983. "Benefits from Groundwater Management: Magnitude, Sensitivity, and Distribution," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(4), pages 703-710.
    7. Cheung, Steven N S, 1970. "The Structure of a Contract and the Theory of a Non-exclusive Resource," Journal of Law and Economics, University of Chicago Press, vol. 13(1), pages 49-70, April.
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