The externalities associated with the common property exploitation of groundwater

Article Abstract:

A comprehensive analysis of the common property system in groundwater extraction is presented. The analysis considers the pumping cost, stock and risk externalities. The rate of groundwater extraction under the common property arrangement is the result of a dynamic game played with feedback strategies. The need for decentralized groundwater management systems is highlighted, based on the analysis.

Management, Externalities (Economics), Groundwater flow

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Does accounting for preference heterogeneity improve the forecasting of a random utility model? A case study

Article Abstract:

The forecasting performance of a number of static random utility models of Lake Michigan salmon anglers is compared. The results reveal that both the random parameters logit (RPL) and latent class logit (LCL) models forecast equally well, by at least one measure the logit model outperforms them both, and also raise the possibility that recreational fishing decisions have a dynamic component.

Michigan, Methods, Usage, Evaluation, Valuation, Logits, Utility meters

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Static modeling of dynamic recreation behavior: Implications for prediction and welfare estimation

Article Abstract:

The outcomes of using a simpler static model of trip-taking behavior instead of more complicated and dynamic one are examined, with reference to the effects of trip prediction and welfare estimation on Lake Michigan salmon angling data from 199-97.

Forecasts, trends, outlooks, North America, Private Households, Consumer Expend-Health & Recreation, Consumer Expend-Reading & Recreation, Forecasts and trends, Environmental aspects, Market trend/market analysis, Recreation, Social service, Amusements, Lake Michigan, Social welfare

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