Ordering the extraction of renewable resources: The case of multiple aquifers

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 groundwater aquifers and an abundant alternative resource. A numerical simulation for the South O‘ahu aquifer system, which also allows for different distribution costs, illustrates the case of using the “leakier” aquifer first and then switching to simultaneous use of both resources.

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