Three approaches to measuring natural resource scarcity : theory and application to groundwater

摘要: Efficient pricing of a resource incorporates both marginal cost extraction and scarcity rents. Since groundwater resources exhibit natural supply constraints, rents must be imposed on current users. Given the difficulty establishing clear ownership rights, value frequently goes unrecognized is difficult to estimate. This results in inefficient misallocation resource. thesis builds three different methods develop appropriate theoretical empirical models relevant for indirect estimation these shadow rents, which we consider as initial most challenging step towards efficient management. Empirical analyses are based economic hydrological data from t he island Cyprus, representative semi-arid regions. Chapter 2 critically assesses previous attempts derive increase social benefits examines potential seriously challenged by Gisser-Sanchez's Effect (GSI): i.e. net optimally managing insignificant all practical purposes. 3 reexamination GSI developing dynamic model adaptation increasing scarcity, when backstop technology available. Both management derived simulating optimal competitive-commonality solutions. Results point absence aquifers facing complete exhaustion near future. 4 proposes refinement revealed preference valuation, combining hedonic travel methods, applies refined willingness pay quality. It claimed hat valuation quality attributes can misleading exogeneity assumption, with respect attributes, sample selection violated. Hence, simultaneity between modelled context producer behaviour investigated empirically case land demanded use an input either agricultural production or touristic development. The analysis suggests that failing correct biased In chapter 5 duality theory employed distance function methodology deriving application involves estimating stochastic situ price derived. 6 concludes comparing contrasting magnitude scarce quality, put forward this research.