One key water resource challenge that faces the eastern United States today is how to regulate water withdrawals by offstream users, while preserving the fair sharing philosophy of the common-law Riparian Doctrine. Traditionally, this doctrine requires that riparians (users owning land adjacent...

An option-value model is developed to analyze the impacts of output price uncertainty, high sunk costs of adoption, and site-specific conditions on the optimal timing of adoption of two interrelated site-specific technologies, soil testing and variable rate technology (VRT). The model...