PRELIMINARY VERSION - PLEASE DO NOT CITE
Table 4. Comparison of Alternative Land Retirement Policies with the Optimal Policy
|
Base |
Uniform |
Land |
Reduce |
Optimal | |
|
Total Water Use (Million Acre/Feet)________________ |
5.049 |
4.814 |
4.814 |
4.591 |
4.814 |
|
Reduction in Water Use |
- |
0.235 |
0.235 |
0.458 |
0.235 |
|
Reduction in Water Use (%)___________________ |
- |
488^ |
488^ |
10.00 |
4.88 |
|
Farm Income (Million $) |
657.498 |
663.399 |
657.498 |
657.498 |
653.138 |
|
Reduction in Farm Income (Million $)_________________ |
-5.901 |
0 |
0 |
4.36 | |
|
Reduction in Farm Income (%)___________________ |
-0.90 |
Ô" |
Ô" |
0.66 | |
|
Gross Social Welfare (Million $)_________________ |
657.498 |
648.689 |
648.689 |
627.208 |
653.138 |
|
Reduction in Gross Social Welfare (Million $)________ |
- |
8.809 |
8.809 |
30.290 |
4.360 |
|
Reduction in Gross Social Welfare (%)_____________ |
- |
L34^ |
L34^ |
461 |
0.66 |
20
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