Journal Article

Optimal Management of a Renewable and Replaceable Resource: The Case of Coastal Groundwater

Darrell Krulce, James A. Roumasset and Tom Wilson

in American Journal of Agricultural Economics

Published on behalf of Agricultural and Applied Economics Association

Volume 79, issue 4, pages 1218-1228
Published in print November 1997 | ISSN: 0002-9092
Published online November 1997 | e-ISSN: 1467-8276 | DOI: http://dx.doi.org/10.2307/1244279
Optimal Management of a Renewable and Replaceable Resource: The Case of Coastal Groundwater

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The nonrenewable-with-backstop model of resource management is extended to cover renewables and applied to the case of coastal groundwater. In the optimal management trajectory, efficiency price exceeds extraction cost by the sum of scarcity rent and “drawdown” cost, the latter remaining large even after the backstop price is reached. In the case of rising demand, optimal management may call for a stage of conservation followed by a stage of drawdown.

Keywords: coastal groundwater; desalination; optimal drawdown; renewable resource; user cost; Q250

Journal Article.  0 words. 

Subjects: Renewable Resources and Conservation

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