The Economics of fertilizer application has been an interesting issue in regard to crop production (Kennedy et al., 1973). Understanding the temporal dynamics complicates the issue along two dimensions: fertilizer carryover and fertilizer runoff. Fertilizer carryover measures the amount of...

The sustainable water use especially for irrigated agriculture in the Texas Panhandle Region is a major concern. A semi-arid climate and average low rainfalls results in little surface water being available year-round. The Ogallala Aquifer is the primary source of irrigation water in this...

A key feature of hydrologically connected surface and groundwater stocks is the two-way exchange of water between the systems. Increasing water scarcity, particularly in arid environments, has spurred debate on how to coordinate management of the two resources. In this paper, I present a model...

The objective of this study is develop a theoretical model that can evaluate two types of public health expenditures on water-borne health risks: water-related municipal services, an ex ante preventative measure against water-borne contamination, and medical treatment, an ex post treatment of...

Persistent and significant privately-held stockpiles of crude oil have long been an important empirical regularity in the United States. Such stockpiles would not rationally be held in a traditional Hotelling-style model. How then can the existence of these inventories be explained? In the...

Payments for ecosystem services should be informed by how both the providing-resource and the downstream resource are managed. We develop an integrated model that jointly optimizes conservation investment in a watershed that recharges a downstream aquifer and groundwater extraction from the...

It is reasonable to consider the stock of any renewable resource as a capital stock and treat the exploitation of that resource in much the same way as one would treat accumulation of a capital stock. This has been done to some extent in earlier papers containing a discussion of this point of...

This paper studies to which extent a firm using a scarce resource input and facing environmental regulation, can still manage to have a sustainable growth of output and profits. The firm has a vintage capital technology with two complementary factors, capital and a resource input subject to...