This paper considers the problem of a water management authority faced with the threat of a drought that hits at an … drought and relying on automatic adjustments through a zero marginal social net benefit condition, iii) an economically … optimal dynamic policy taking account of the threat of a drought. In particular, we show that the optimal pre-drought steady …

Riudecanyes (a village in Catalonia, Spain), where a drought problem exists. We propose applying the conflicting claims problem …