Humidified gas turbines have the potential of enhanced cycle efficiencies with moderate initial cost. Evaporatively-cooled air compression is of importance to the power generation industry. The present work is aimed at contributing to a number of unanswered questions concerning the wet-compression process. Current operational margins limit the vapor mass fraction to 1-2% by mass of the inlet flow. Yet, machines specifically designed to accommodate higher mass fractions are conceivable. Our aim is to explain the theoretical limits of those machines via a heat and mass transfer model. Continuous compression cooling via evaporation is modeled numerically based on droplet evaporation analysis. Parametric studies show the effect of variables such as droplet size, water injection ratio or compression ratio on transient behavior. Wet compression parameters such as evaporation time, compressor outlet temperature and compression work are estimated.