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

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type	work Article
Is Part Of	http://hub.abes.fr/oup/periodical/ajae/1997/volume_79/issue_4/w
Subject	Articles desalination renewable resource http://zbw.eu/beta/external_identifiers/jel#q250 coastal groundwater optimal drawdown user cost
Title	Optimal Management of a Renewable and Replaceable Resource: The Case of Coastal Groundwater
has manifestation of work	http://hub.abes.fr/oup/periodical/ajae/1997/volume_79/issue_4/1023071244279/m/web http://hub.abes.fr/oup/periodical/ajae/1997/volume_79/issue_4/1023071244279/m/print
related by	http://hub.abes.fr/oup/periodical/ajae/1997/volume_79/issue_4/1023071244279/authorship/1 http://hub.abes.fr/oup/periodical/ajae/1997/volume_79/issue_4/1023071244279/authorship/2 http://hub.abes.fr/oup/periodical/ajae/1997/volume_79/issue_4/1023071244279/authorship/3
Author	Krulce Darrell Roumasset James A. Wilson Tom
Abstract	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.
article type	research-article
is part of this journal	Journal of Farm Economics/Canadian Journal of Agricultural Economics

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