This study is primarily concerned with water storage control under conditions of conjunctive use and the role of storage control in guiding investment decisions in water resource development. Modern sequential decision theory is applied to water storage control in order to provide a theoretical framework for economic analysis. The theoretical model is utilized in an empirical investigation which is concerned with marginal value of imported water. The region chosen for study is serviced by Pine Flat Reservoir on the Kings River in the San Joaquin Valley.
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Oscar R. Burt (1964) studied this question.
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