Valuing Groundwater Recharge in an Urban Context
研究了城市化导致地下水补给减少的问题，提出用自回归过程描述供水随机性，并以洛杉矶数据证明该方法能更准确估算地下水缓冲价值和储量价值。
<i>Urbanization often creates waterrelated externalities such as increased flooding and decreased groundwater recharge. Decreased recharge can lead to the diminution of potentially valuable groundwater. Groundwater’s ability to buffer water-supply shocks may be a substantial component of the value of groundwater stock. I argue that in urban contexts, autoregressive rather than i.i.d. stochastic processes are a better characterization of water supply processes. Data for the Los Angeles area suggests that an autoregressive process is a better approximation of water supply processes than alternative processes and produces economically and statistically significantly different estimates of buffer and groundwater stock values.</i>