Groundwater Management in a Food Security Context
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This article analyzes the sustainability of market-based instruments such as tradable permits for the management of a renewable aquifer used for irrigated agriculture. In our dynamic hydro-economic model, a water agency aims at satisfying a food security constraint within a tradable permit scheme in the presence of myopic heterogeneous agents. We identify analytically the viability kernel that defines the states of the resource yielding inter-temporal feasible paths able to satisfy the set of constraints over time and the associated set of viable quota policies. We then illustrate the theoretical results of the paper with numerical simulations based on the Western La Mancha aquifer.
KeywordsGroundwater Agriculture Irrigation Food security Individual permits Sustainability Dynamic model Viability kernel
JEL ClassificationQ15 Q25 C61
This study has been carried out with financial support from the French National Research Agency (ANR) in the frame of the Investments for the future Program, within the Cluster of Excellence COTE (ANR-10-LABX-45). We thank the two referees and the co-editor for their suggestions, always stimulating.
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