We use martingale methods to obtain an explicit formula for the expected wet period of the finite dam of capacity V, where the amounts of inputs are i.i.d exponential random variables and the output rate is one, when the reservoir is not empty. As a consequence, we obtain an explicit formula for the expected hitting time of either 0 or V and a new expression for the distribution of the number of overflows during the wet period, both without the use of complex analysis.
Lee, E. Y.,
& Kinateder, K.
(2000). The Expected Wet Period of Finite Dam with Exponential Inputs. Stochastic Processes and their Applications, 90 (1), 175-180.