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Integrated Management of the South Oahu Aquifer System: A Spatial and Temporal Approach

Author

Listed:
  • James Roumasset

    () (Department of Economics, University of Hawaii at Manoa)

  • Christopher Wada

    () (Department of Economics, University of Hawaii at Manoa)

Abstract

Although the economics of groundwater management is typically modelled as a single aquifer serving a single group of consumers, resource managers must often decide how to manage multiple aquifers simultaneously. We propose a temporal and spatial model to determine the efficient allocation of groundwater when two coastal aquifers are available for exploitation. Along the optimal trajectory extraction may switch from single to simultaneous use, depending on how the total marginal cost of each resource evolves over time. A numerical simulation for the South Oahu aquifer system illustrates the switching behavior.

Suggested Citation

  • James Roumasset & Christopher Wada, 2009. "Integrated Management of the South Oahu Aquifer System: A Spatial and Temporal Approach," Working Papers 200902, University of Hawaii at Manoa, Department of Economics.
  • Handle: RePEc:hai:wpaper:200902
    as

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    File URL: http://www.economics.hawaii.edu/research/workingpapers/WP_09-2.pdf
    File Function: First version, 2009
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    References listed on IDEAS

    as
    1. Jasper M. Dalhuisen & Raymond J. G. M. Florax & JHenri L. F. de Groot & Peter Nijkamp, 2003. "Price and Income Elasticities of Residential Water Demand: A Meta-Analysis," Land Economics, University of Wisconsin Press, vol. 79(2), pages 292-308.
    2. Kemp, Murray C & Long, Ngo Van, 1980. "On Two Folk Theorems Concerning the Extraction of Exhaustible Resources," Econometrica, Econometric Society, vol. 48(3), pages 663-673, April.
    3. Olmstead, Sheila M. & Michael Hanemann, W. & Stavins, Robert N., 2007. "Water demand under alternative price structures," Journal of Environmental Economics and Management, Elsevier, vol. 54(2), pages 181-198, September.
    4. Basharat A. Pitafi & James A. Roumasset, 2009. "Pareto-Improving Water Management over Space and Time: The Honolulu Case," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(1), pages 138-153.
    5. Darrell Krulce & James A. Roumasset & Tom Wilson, 1997. "Optimal Management of a Renewable and Replaceable Resource: The Case of Coastal Groundwater," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1218-1228.
    6. Chakravorty, Ujjayant & Krulce, Darrell L, 1994. "Heterogeneous Demand and Order of Resource Extraction," Econometrica, Econometric Society, vol. 62(6), pages 1445-1452, November.
    7. Costello, Christopher & Polasky, Stephen, 2008. "Optimal harvesting of stochastic spatial resources," Journal of Environmental Economics and Management, Elsevier, vol. 56(1), pages 1-18, July.
    8. Richard Horan & James Shortle, 1999. "Optimal Management of Multiple Renewable Resource Stocks: An Application to Minke Whales," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 13(4), pages 435-458, June.
    9. Chakravorty, Ujjayant & Roumasset, James & Tse, Kinping, 1997. "Endogenous Substitution among Energy Resources and Global Warming," Journal of Political Economy, University of Chicago Press, vol. 105(6), pages 1201-1234, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Renewable resources; dynamic optimization; multiple resources;

    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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