Temporal allocation of groundwater
Author:
- Oscar R. BurtOBOscar R. Burt
- 1 March 1967
- journal article
- research article
- Published by American Geophysical Union (AGU) in Water Resources Research
- Vol. 3 (1) , 45-56
Abstract
A relatively simple economic model for allocation of groundwater in time is developed. The economic consequences of altering various parameters in the model are examined with respect to the effect on equilibrium stocks and rate of use. The concept of a conditional decision rule for stochastic groundwater recharge and the properties of the implied equilibrium are discussed. In its simplest form, the derived decision rule is to equate marginal net output with respect to rate of use to capitalized marginal net output with respect to water stocks.Keywords
This publication has 3 references indexed in Scilit:
- Economic Control of Groundwater ReservesJournal of Farm Economics, 1966
- The economics of conjunctive use of ground and surface waterHilgardia, 1964
- Optimal Resource Use Over Time with an Application to Ground WaterManagement Science, 1964