The Role of Land Retirement Programs for Management of Water Resources

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Table 4. Comparison of Alternative Land Retirement Policies with the Optimal Policy

	Base Model	Uniform Strategy	Land Restriction Model	Reduce Water Use by 10%	Optimal Policy

Total Water Use (Million Acre/Feet)________________	5.049	4.814	4.814	4.591	4.814
Reduction in Water Use (Million Acre/Feet)________	-	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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