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• W575653057 abstract "General principles of groundwater management for a single aquifer are extended to the management of multiple water resources, including additional aquifers, recycled wastewater, and desalinated seawater. Optimal groundwater extraction can be incentivized by pricing according to the Pearce equation for renewable resources, although the standard version of the equation must be modified in certain situations, e.g., to accommodate corner solutions or governance costs. Groundwater management and pricing must be coordinated with the management of watershed and related resources lest the benefits of conservation are squandered by wasting the water saved. Joint optimization also provides the basis for correctly pricing ecosystem services such as groundwater recharge. From the models and examples discussed, one can conclude that a systems approach is necessary, and ad hoc rules of thumb such as maximum sustainable yield are welfare reducing. Whether or not these types of welfare reductions are substantial depends largely on the particular management problem. The Gisser–Sanchez (GS) effect suggests that the welfare effects of first-best management are relatively small when the aquifer is large enough relative to the quantity demanded at extraction cost, but the welfare gains can become quite substantial as those assumptions are relaxed. Inasmuch as actual groundwater management may be far from efficient in many regions, the GS effect notwithstanding the problem of optimal resource governance is discussed." @default.
• W575653057 created "2016-06-24" @default.
• W575653057 creator A5026735710 @default.
• W575653057 creator A5057342012 @default.
• W575653057 date "2015-01-01" @default.
• W575653057 modified "2023-10-03" @default.
• W575653057 title "Integrated Groundwater Resource Management" @default.
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• W575653057 doi "https://doi.org/10.1016/b978-0-12-800347-3.00005-4" @default.
• W575653057 hasPublicationYear "2015" @default.
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