Renewable Resource Management with Stock Externalities: Coastal Aquifers and Submarine Groundwater Discharge

Sittidaj Pongkijvorasin, James Roumasset, Thomas Duarte and Kimberly Burnett ()
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Sittidaj Pongkijvorasin: Chulalongkorn University
Thomas Duarte: Kamehameha Schools

No 200808, Working Papers from University of Hawaii at Manoa, Department of Economics

Abstract: This paper develops a hydrologic-ecologic-economic model of groundwater use. Particularly, we model coastal groundwater management and its effects on submarine groundwater discharge, nearshore marine water quality, and marine biota. We show that incorporating the external effects on nearshore resources increases the optimal sustainable steady-state head level. Numerical simulations are illustrated using data from the Kuki’o region on the island of Hawaii. Two different approaches for incorporating the nearshore resource are examined. Including algae’s market value in the objective function results in only slightly lower rates of extraction. When a minimum constraint is placed on the stock of the keystone species, however, greater conservation may be indicated. The constraint also results in non-monotonic paths of water extraction, head level, and water price in the optimal solution.

Keywords: groundwater management; marine ecology; dynamic optimization; safe minimum standard; sustainability science (search for similar items in EconPapers)
JEL-codes: C61 D62 Q25 Q28 (search for similar items in EconPapers)
Pages: 30
Date: 2008-11-10
New Economics Papers: this item is included in nep-env
Note: Revised version of WP:07-13, Coastal Groundwater Management with Nearshore Resource Interactions
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http://www.economics.hawaii.edu/research/workingpapers/WP_08-8R.pdf First version, 2008 (application/pdf)

Related works:
Journal Article: Renewable resource management with stock externalities: Coastal aquifers and submarine groundwater discharge (2010)
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