WELFARE DIFFERENCES BETWEEN GROSS WATER PUMPED AND CONSUMPTIVE USE AS ALTERNATIVE POLICY CONTROL VARIABLES TO MEET AQUIFER MANAGEMENT OBJECTIVES
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The welfare cost of using gross water pumped instead of consumptive use as a control variable to meet consumptive use goal was estimated for Southwestern Nebraska. The results show that the widespread use of gross water as a policy control variable substantially overstates the welfare cost of reducing consumptive use.