Document Type

Article

Journal/Book Title/Conference

Economics Research Institute Study Paper

Volume

95

Issue

14

Publisher

Utah State University Department of Economics

Publication Date

1995

First Page

1

Last Page

17

Abstract

In this paper I propose and develop a new framework for modeling groundwater management issues. Specifically, I apply the methods of queuing theory-for the first time, to the best of my knowledge-to model a groundwater management problem from a long-run perspective. I characterize two simple management regimes as two different kinds of queues and then show how to pose a manager's decision problem as an optimization problem using queuing theoretic techniques. I solve for certain fundamental quantities, such as the expected system size, and then discuss the economic meaning and relevance of the queuing concepts being used. I close by discussing possible extensions to my basic models.


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