Geopolitics

Is there any agricultural society or country where farmers would pay a fair price for the groundwater and its depletion?

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First you need to know the supply - how much water you can spend every year.

Then you can e.g. run auction for the available water, either by slots, or something else.

However this only works if farmers are themselves pumping the aquifer dry without telling anyone.

I would be curious how such a fair price would be determined.

Are you thinking of the Tragedy of the commons?

Are you thinking of the Tragedy of the commons?

https://en.wikipedia.org/wiki/Tragedy_of_the_commons

Curious if there is any. The general tendency toward facade democracy across the globe would make such a country standout.

Sub-question: Fair price for groundwater seems important (as well as fair share). But fair price for depletion? A fair price would rather be tailored to avoid depletion, no?

I would imagine that if factoring the cost of this externality into the fully landed production cost exceeded the price of imports, then the society / country might prefer importing the ag products in question

Which will deplete the H2O resource faster in the exporting country, merely delaying the inevitable conundrum

I just attended a 2 hour meeting on the state of our local water.  If you think water sustainability isn’t on the top of farmer’s minds then you probably don’t know any farmers.