Description:
<jats:p>Optimal allocation of groundwater over time is analyzed for situations in which institutional constraints prevent imposition of a criterion based strictly on economic efficiency. The various cases considered range from unrestricted optimization to a model in which the only decision variable is the time at which uncontrolled pumping is stopped and in which the basin uses periodic recharge from that point into perpetuity. The latter case has been analyzed before but under the assumption of constant marginal productivity of water used in the basin. This assumption is relaxed and its impact on equilibrium storage is examined.</jats:p>