This paper proposes a new Economic Drought Management Index (EDMI) that could assist water managers to inter … various scenarios of climate change, and for a 8-year real period, which includes three consecutive drought years. Results … show that the region's vulnerability to drought could be reduced following the interpretation of the EDMIs. EDMIs under …

to confront highly variable rainfall patterns. In this paper, we derive and propose an economic drought management index … (EDMI) to evaluate water institutions' performance to cope with drought risk. The EDMI is based on the optimal conditions of …

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 …