Pitafi, Basharat A.; Roumasset, James A. - In: American Journal of Agricultural Economics 91 (2009) 1, pp. 138-153
We model welfare gains from efficient allocation of groundwater over space and time relative to the status quo policy of financial cost recovery. In order to promote political feasibility, an intertemporal compensation plan is devised that renders the reform Pareto-improving. Gainers from the...
