On-Farm Reservoir Adoption in the Presence of Spatially Explicit Groundwater Use and Recharge

Author

Kent Kovacs (kkovacs@uark.edu), Michael Popp, Kristofer Bryce and Grant West

Journal of Agricultural and Resource Economics, 2015, vol. 40, issue 1

Abstract: Groundwater management is conducted in spatial aquifers where well pumping results in localized cones of depression. This is in contrast to the single-cell aquifer used in most economic analyses that assumes groundwater depletion occurs uniformly over a study area. We address two aspects of the optimal management of groundwater: a spatially explicit representation of the aquifer and the potential of on-farm reservoirs to recharge the underlying aquifer. A spatial-dynamic model of the optimal control of groundwater use and on-farm reservoir adoption is developed. Results suggest that a single-cell aquifer overestimates groundwater use and farm net returns over thirty years.

Keywords: aquifer depletion; groundwater; on-farm reservoirs; spatial-dynamic optimization; Agribusiness; Land Economics/Use (search for similar items in EconPapers)
Date: 2015
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