The Value of Water in Agriculture: The U.S. High Plains Aquifer

Federico García Suárez, Lilyan Fulginiti and Richard Perrin

No 211644, 2015 Conference, August 9-14, 2015, Milan, Italy from International Association of Agricultural Economists

Abstract: The objective is to provide an estimate of the use value of the U.S. High Plains aquifer in agriculture. A regional production function for the crop sector, based on countylevel observations, was estimated. Two main estimation procedures were used. The first used a system of equations and instrumental variables, the second accounted for spatial effects. Using the estimated production responses to irrigation, we estimate the average gross value of groundwater for agriculture to be $165/acre at 2007 prices. Using spatial statistical analysis, we found significant spatial relationships that increased this estimate to $174

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 22
Date: 2015
New Economics Papers: this item is included in nep-eff
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iaae15:211644

DOI: 10.22004/ag.econ.211644

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