Optimal sequencing of resource extraction is typically studied for nonrenewable resources. We provide conditions for optimal use of multiple sources of a renewable resource and characterize the resulting extraction sequence, resource scarcity values, and (single) efficiency price path for two...

With climate change exacerbating over-exploitation, groundwater scarcity looms as an increasingly critical issue worldwide. Minimizing the adverse effects of scarcity requires optimal as well as sustainable patterns of groundwater management. We review the many sustainable paths for groundwater...

Growing scarcity of freshwater worldwide brings to light the need for sound water resource modeling and policy analysis. While a solid foundation has been established for many specific water management problems, combining those methods and principles in a unified framework remains an ongoing...