The Optimal Extraction of Water Along an Arbitrarily Configured River System

Alex Coram, Lyle Noakes

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

The fundamental problem for any scheme of water management that tries to maximisewelfare across a river system is that of determining the optimal allocation at everypoint. The problem cannot, in general, be avoided by trading water rights because theprice 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 frommissing information on the value of water at internal junctions between rivers. It isthen solved in an optimal control theory framework.
Original languageEnglish
Pages (from-to)251-264
JournalThe Australian Journal of Agricultural and Resource Economics
Volume53
Issue number2
DOIs
Publication statusPublished - 2009

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