Publications [#317861] of Alexander Pfaff

Journal Articles

1. Fonseca, MA; Pfaff, A; Osgood, DE, Efficiency Gains from Pre-Investment Resource Queues: Coordinating Investment Under Resource Uncertainty (April, 2011)
   (last updated on 2026/01/18)

   Abstract:
   Farmers make investments before knowing how much water they will receive later in the season. The costs of the inefficiently high or low investment that may result can be significant. A spot market that efficiently allocates water once quantity is realized is unlikely to coordinate simultaneous efficient investments earlier in the season. This paper compares pre-established queues to a post-investment-and-resource-realization market in coordinating investment whose productivity depends on having the uncertain resource.