OPTIMAL GROUNDWATER MINING IN THE OGALLALA AQUIFER: ESTIMATION OF ECONOMIC LOSSES AND EXCESSIVE DEPLETION DUE TO COMMONALITY

Lee, Kun C.; Short, Cameron; Heady, Earl O.

doi:10.22004/ag.econ.279261

OPTIMAL GROUNDWATER MINING IN THE OGALLALA AQUIFER: ESTIMATION OF ECONOMIC LOSSES AND EXCESSIVE DEPLETION DUE TO COMMONALITY

Lee, Kun C.; Short, Cameron; Heady, Earl O.

1981

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Abstract

The optimal rates of intertemporal and within-group groundwater mining in the Ogallala Aquifer are estimated for the year 1985 to 2005. The gains realized by the optimal policy are measured and compared with gains from the free market policy and life of the aquifer is estimated.