Efficiency of Viable Groundwater Management Policies

Citation data:

Land Economics, ISSN: 0023-7639, Vol: 92, Issue: 4, Page: 618-640

Publication Year:
2016
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DOI:
10.3368/le.92.4.618
Author(s):
Todd Guilfoos, Neha Khanna, Jeffrey M. Peterson
Publisher(s):
University of Wisconsin Press
Tags:
Environmental Science, Economics, Econometrics and Finance
article description
We investigate the relative performance of simple groundwater policies in a spatially detailed aquifer and reveal the distribution of net benefits from those policies. Groundwater policy is plagued with a high level of complexity in achieving the first best outcome, which may be costly and politically infeasible to adopt. We parameterize a 8,457-cell spatially detailed model of the northwest Kansas section of the Ogallala Aquifer and find that simple pricing, quantity, and water market policies perform poorly but can be improved upon by localized policies that are more efficient and garner more popular support.

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