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| Tekijä: | Saak, A.E. Peterson, J.M. |
| Otsikko: | Groundwater use under incomplete information |
| Lehti: | Journal of Environmental Economics and Management
2007 : VOL. 54:2, p. 214-228 |
| Asiasana: | information resources |
| Vapaa asiasana: | groundwater |
| Kieli: | eng |
| Tiivistelmä: | The paper introduces a game theoretic model of groundwater extraction in a two-cell aquifer under incomplete information. It appears that the lack of information may either increase or decrease the rate of water use and welfare. In a two-period framework the relevant characteristic is the ratio of the periodic marginal benefits of water use. Depending on whether this ratio is convex or concave, the average speed with which the aquifer is depleted decreases or increases when users learn more about the local hydrologic properties of groundwater. Welfare may decrease even in cases when the groundwater allocation is closer to the efficient groundwater allocation. |
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