@article{Gyles:125647,
      recid = {125647},
      author = {Gyles, Oliver},
      title = {Water Use Efficiency at the Farm and Regional Level: The  Economics of Response and the Furphy of Excellence.},
      address = {2001-01},
      number = {412-2016-25864},
      pages = {9},
      year = {2001},
      abstract = {An allowance for water use is part of the agronomic  analysis implicit in the foundation of
any sensible  economic evaluation of crop response or change of farming  system.
Diminishing returns to investment in water use  efficiency imply that the optimum level of
investment is  determined by the price of the commodity and the cost of  increasing
efficiency. Given a market for water, the  relevant price will be that of the least valuable
commodity  produced at the margin of regional resources. Until water  becomes liquid
gold, the farm optimum will be well short of  the experimental maximum. Some farm and
regional  possibilities for investing in increased WUE are  discussed.},
      url = {http://ageconsearch.umn.edu/record/125647},
      doi = {https://doi.org/10.22004/ag.econ.125647},
}