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Are the gains from a groundwater management policy so low?

  • Elsa Martin
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    The point of departure of this work is Gisser and Sanchez' (1980) result according to which a groundwater management policy would not generate significant gains with respect to a situation with no control. The theoretical result is obviously checked for a fixed number of agents if the storage capacity of the aquifer is relatively large. We propose to add an entry component into Rubio and Casino's (2001) adaptation from Gisser and Sanchez' (1980) seminal model in order to make the number of farmers exploiting the resource endogenous. We then show that, at the steady state, the Gisser and Sanchez' result is not true anymore since the rent at the stationary equilibrium is zero, although it is positive if a central planner intervenes.

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    File URL: http://www2.dijon.inra.fr/cesaer/workingpapers/RePEc/ceo/wpaper/wp2010_2.pdf
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    Paper provided by INRA UMR CESAER, Centre d'’Economie et Sociologie appliquées à l'’Agriculture et aux Espaces Ruraux in its series INRA UMR CESAER Working Papers with number 2010/2.

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    Length: 14
    Date of creation: 29 Mar 2010
    Date of revision:
    Handle: RePEc:ceo:wpaper:3
    Contact details of provider: Postal: UMR CESAER 26 bd Docteur Petitjean 21000 Dijon France
    Phone: +33380772580
    Fax: +33380772571
    Web page: http://www2.dijon.inra.fr/cesaer
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    1. 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.
    2. Koundouri, Phoebe & Christou, Christina, 2006. "Dynamic adaptation to resource scarcity and backstop availability: theory and application to groundwater," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 50(2), June.
    3. Sanchirico, James N. & Wilen, James E., 1999. "Bioeconomics of Spatial Exploitation in a Patchy Environment," Journal of Environmental Economics and Management, Elsevier, vol. 37(2), pages 129-150, March.
    4. Rubio, Santiago J. & Casino, Begona, 2001. "Competitive versus efficient extraction of a common property resource: The groundwater case," Journal of Economic Dynamics and Control, Elsevier, vol. 25(8), pages 1117-1137, August.
    5. C.S. Kim & Glenn Schaible, 2000. "Economic Benefits Resulting From Irrigation Water Use: Theory and an Application to Groundwater Use," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 17(1), pages 73-87, September.
    6. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124.
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