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Spatially correlated rainfall in a protective irrigation system

机译:保护性灌溉系统中与空间相关的降雨

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Allowing water to be traded in an irrigation system with de facto riparian rights can increase the efficiency of water use. With irrigation supplementing uncertain rainfall, both supply and demand for water are uncertain. When rainfall events are positively correlated, water supply and demand movements are negatively correlated, causing large price fluctuations. Using a stylized two crop, two region irrigation system, numerical integration over a bivariate rainfall distribution is used to demonstrate the impact of varying rainfall correlation on water price, expected returns, and return variability. A spot market for water captures the majority of the returns to water rights transfers, relative to a complete market. This spot market results in higher returns and reduced return volatility for farmers in the water deficit region, while farmers in the water surplus region see greater returns but also greater return volatility.
机译:允许在具有事实上河岸权的灌溉系统中进行水的交易可以提高用水效率。通过灌溉补充不确定的降雨,水的供需双方都不确定。当降雨事件呈正相关时,供水和需求变化呈负相关,从而导致较大的价格波动。通过使用程式化的两作物,两区域灌溉系统,使用二元降雨量分布上的数值积分来证明降雨相关性变化对水价,预期收益和收益变异性的影响。相对于完整的市场,水现货市场占据了水权转让的大部分收益。现货市场为缺水地区的农民带来了更高的回报并减少了回报波动,而缺水地区的农民看到了更高的回报,但回报波动也更大。

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