We provide a synthesis of the economics of groundwater with a focus on optimal management and the Pearce equation for renewable resources. General management principles developed through the solution of a single aquifer optimization problem are extended to the management of multiple resources...

This paper examines the sequence of optimal extraction of nonrenewable resources in the presence of multiple demands. We provide conditions under which extraction of a nonrenewable resource may be discontinuous over the course of its depletion.

This paper develops a hydrologic-ecologic-economic model of groundwater use. Particularly, we model coastal groundwater management and its effects on submarine groundwater discharge, nearshore marine water quality, and marine biota. We show that incorporating the external effects on nearshore...

While renewable resource economics is typically confined to one source and one aggregate demand, resource managers must often decide how to manage multiple sources of a resource simultaneously. In addition, studies of extraction sequencing are typically confined to non-renewable resources. We...

With the specter of climate change, groundwater scarcity looms as an increasingly critical issue worldwide. Minimizing the adverse effects of scarcity requires optimal as well as sustainable patterns of groundwater management. We review the many sustainable paths for groundwater extraction from...

Although the economics of groundwater management is typically modelled as a single aquifer serving a single group of consumers, resource managers must often decide how to manage multiple aquifers simultaneously. We propose a temporal and spatial model to determine the efficient allocation of...

Payments for ecosystem services should be informed by how both the providing-resource and the downstream resource are managed. We develop an integrated model that jointly optimizes conservation investment in a watershed that recharges a downstream aquifer and groundwater extraction from the...

Optimal recycling of minerals can be thought of as an integral part of the theory of the mine. In this paper, we consider the role that wastewater recycling plays in the optimal extraction of groundwater, a renewable resource. We develop a two-sector dynamic optimization model to solve for the...

Inasmuch as water demand is multifaceted, infrastructure planning should be part of a general specification of efficient quantities and qualities of water deliveries over time. Accordingly, we develop a two-sector dynamic optimization model to solve for the optimal trajectories of groundwater...

We optimize groundwater management in the presence of marine consequences of submarine groundwater discharge (SGD). Concern for marine biota increases the optimal steady-state head level of the aquifer. The model is discussed in general terms for any coastal groundwater resource where SGD has a...