\section{Yearly Response Since 2011}
In this appendix the \ac{ATT} of \ac{SBD1} policies is provided as an event study, with the average response of wells in \ac{CREP} reported independently from other \ac{SBD1} wells\footnote{Wells are only eligible for \ac{CREP} if they are in \ac{SBD1}.}. This provides a picture of how \ac{CREP} wells responded to \ac{SBD1} policies. Since the response to the pumping fee of \ac{CREP} wells is significantly different from other \ac{SBD1} wells there is evidence that wells were not enrolled in \ac{CREP} randomly. Rather wells were selectively placed into \ac{CREP} based on groundwater yield after maximizing farm profits in response to the pumping fee\footnote{The probit model of \cref{REG:SELECT_PROBIT} finds the response to the pumping fee to be a significant contributing factor to \ac{CREP} enrollment after controlling for other factors which may induce enrollment, such as crop choice.}. 

\cref{2011CREPVSBD1} provides the regression table of this exercise. \cref{FIG:SBD1ALL} and \cref{FIG:CREPALL} are graphical representation of the results from \cref{2011CREPVSBD1}. 

\input{Tables/REG_PRE_CREP_EVENT.tex}

\cref{FIG:SBD1ALL} is a coefficient plot which includes only the \ac{SBD1} year interactions, providing a graphic representation of how the average \ac{SBD1} well responded to the mix of conservation policies across time. 
\begin{figure}
    \centering
    \includegraphics[width=0.7\textwidth]{PRE_CREP_SBD1.pdf}
    \caption{Subdistrict policy effect on non-CREP wells}
    \label{FIG:SBD1ALL}
\end{figure}

\FloatBarrier

\cref{FIG:CREPALL} is a coefficient plot of only the additional response of \ac{CREP} wells. These are the yearly coefficients in \cref{2011CREPVSBD1} and are in addition to the \ac{SBD1} average effect of \cref{FIG:SBD1ALL}.
\begin{figure}
    \centering
    \includegraphics[width=\textwidth]{PRE_CREP_CREP.pdf}
    \caption{Subdistrict policy effect on CREP wells}
    \label{FIG:CREPALL}
\end{figure}

Of note is the time path of \ac{CREP} extraction reductions. In every year with a pumping fee \ac{CREP} wells extract less water than other \ac{SBD1} wells. In 2011, the pumping fee came into effect at \$45 dollars per \ac{AF}. In this year \ac{CREP} wells pumped 12.21 fewer \ac{AF} than other \ac{SBD1} wells. In the following year, the pumping fee was raised to \$75 per \ac{AF} and \ac{CREP} wells further lowered pumping rates by 33 \ac{AF} compared with other \ac{SBD1} wells. On average the initial pumping fee reduced \ac{SBD1} well pumping by 0.13 \ac{AF} per dollar, and \ac{CREP} wells by 0.409 \ac{AF} per dollar. In 2012 the \ac{SBD1} wells reduced groundwater extraction by 0.578 \ac{AF} per dollar, and \ac{CREP} wells by 1.03 \ac{AF} per dollar. 

The decline of water use continued after 2016, which is the first year of the \ac{CREP} program. By 2020, all \ac{CREP} wells are entered in the program and the water applied to land constitutes the allowable volumes for approved cover crops.
