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| Saak, Alexander E.; Peterson, Jeffrey M.. |
| Farm size is a significant determinant of both groundwater irrigated farm acreage and groundwater irrigation application rates per acre. This paper analyzes the patterns of groundwater exploitation when resource users in the area overlying a common aquifer are heterogeneous. In the presence of user heterogeneity, the common resource problem consists of inefficient dynamic and spatial allocation of groundwater because it impacts income distribution not only across periods but also across farmers. Under competitive allocation, smaller farmers pump groundwater faster if farmers have a constant marginal periodic utility of income. However, it is possible that larger farmers pump faster if the Arrow-Pratt coefficient of relative risk-aversion is sufficiently... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Common property resource; Groundwater; Majorization; Resource /Energy Economics and Policy. |
| Ano: 2007 |
URL: http://purl.umn.edu/9798 |
