The optimal extraction of water along an arbitrarily configured river system

The fundamental problem for any scheme of water management that tries to maximise welfare across a river system is that of determining the optimal allocation at every point. The problem cannot, in general, be avoided by trading water rights because the price will not account for the effect of extraction at any one point on all other points. This article interprets the problem in terms of the indeterminacy that results from missing information on the value of water at internal junctions between rivers. It is then solved in an optimal control theory framework.


Issue Date:
2009
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/161915
Published in:
Australian Journal of Agricultural and Resource Economics, Volume 53, Issue 2
Page range:
251-264
Total Pages:
14




 Record created 2017-04-01, last modified 2017-04-24

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)