In the context of recent California drought years, we investigate empirically whether consumers are willing to pay for … cents per gallon of water saved on average. Moreover, informing consumers about the drought severity increases the WTP for …

This paper posits that when hit with drought, a household's ability to cope with the shock will be affected by its use … spoken as homogeneous, the paper performs an OLS analysis. The results first establish that drought has a significant and … households in the village affected by drought. The results also consistently show that headenders tend to see significant …

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 …