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Water Markets for the 21st Century

Water Markets for the 21st Century
Author: K. William Easter
Publisher: Springer
Total Pages: 354
Release: 2014-07-30
Genre: Technology & Engineering
ISBN: 9401790817
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This book evaluates the history, the present and the future of water markets on 5 continents, beginning with the institutional underpinnings of water markets and factors influencing transaction costs. The book examines markets in seven countries and three different U.S. states, ranging from village-level water markets in Oman to basin wide formal water markets in Australia's Murray-Darling River basin. Introductory chapters on the background of water markets and on transaction costs and policy design are followed by chapter length discussion of water markets as an adaptive response to climate change and of supply reliability in a changing climate. Case studies describe a variety of facets of the design and function of markets around the world: California, Chile, Spain, Oman, Australia, Canada, India and China. In analyzing these real-world examples of markets, the contributors explore water rights and trading of rights between agricultural and urban sectors and the principles and function of option markets. They discuss different sized approaches, from large scale, ministry-level administration of markets to informal arrangements among farmers in the same village, or groups of villages which allocate water without large investment in management and infrastructure. Discussion includes questions of why water market practices have not expanded more rapidly in arid places. The book discusses mechanisms for resolving conflicts between water rights holders as well as between water right holders and third parties impacted by water trades and whether or not public ownership of water rights or use rights should trump private ownership and under what condition. Also covered are new and expanding categories of water use, beyond human consumption, agriculture and industry to new technologies ranging from extracting natural gas from shale to producing biofuels. The book concludes with suggestions for future water markets and offers a realistic picture of how they might change water use and distribution practices going forward.

Water Rights Markets in the 21st Century

Water Rights Markets in the 21st Century
Author: Philip James Womble
Publisher:
Total Pages:
Release: 2020
Genre:
ISBN:
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In arid regions across the world, water markets are implemented to efficiently manage water scarcity and restore streamflows for fully or partially dewatered ecosystems. The western United States hosts prominent water markets, with an annual average of more than $500 million traded and environmental transactions comprising about a third of the volume traded from 2008-2018. However, these markets are commonly described as failing to achieve efficient water management because of substantial legal barriers to trade. Also, environmental water marketing remains immature, with mostly opportunistic transactions. This dissertation examines potential solutions to these shortcomings in the state of Colorado, which has some of the most developed water markets and water law in the U.S. First, I examine barriers to trade -- non-water transaction costs incurred for legal approval of water transfers -- using quantitative and qualitative survey data from 100 water professionals. My statistical models depict physical and legal drivers of transaction costs and show that legal changes that clarify the definition of water rights couple some of the greatest transaction cost reductions with relatively low negative externalities. Second, I develop an integrated ecohydrologic-economic-legal simulation-optimization model that maximizes ecological outcomes from environmental water marketing in the Upper Colorado River Basin. The Colorado River is the world's most overallocated river. Results show that optimal environmental water rights portfolios consist heavily of informal water transactions that evade legal barriers but provide no legal protection for restored streamflows; include large reservoir leases that offer temporal flexibility and achieve scale economies; and select transactions in especially dewatered river reaches. Taken together, the results illustrate how 19th century water rights law constrains 21st century water markets.

Markets for Water

Markets for Water
Author: K. William Easter
Publisher: Springer Science & Business Media
Total Pages: 306
Release: 2007-08-20
Genre: Business & Economics
ISBN: 0585320888
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Markets for Water: Potential and Performance dispels many of the myths surrounding water markets and gives readers a comprehensive picture of the way that markets have developed in different parts of the world. It is possible, for example, for a water market to fail, and for the transaction costs in water markets to be excessive. Too often water trading is banned because the water resources have been developed with public funds and the water agencies do not want to lose control over water. There is also a concern that poor farmers or households will be disadvantaged by water trading. These concerns about public resources and the poor are not very different from those that have been voiced in the past about land sales. The problem is that in many cases the poor already have limited access to resources, but this limit is not due to water trading. In fact, water trading is likely to expand the access to water for many small-scale farmers. Markets for Water: Potential and Performance provides an analytical framework for water market establishment. It develops the necessary conditions for water markets and illustrates how they can improve both water management and economic efficiency. Finally, the book gives readers an up-to-date picture of what we have learned about water markets in a wide range of countries, from the US to Chile and India.

Water Management in the 21st Century

Water Management in the 21st Century
Author: Terence R. Lee
Publisher: Edward Elgar Publishing
Total Pages: 232
Release: 1999
Genre: Business & Economics
ISBN:
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Analyses the means for establishing and operating effective water markets. Proposes the application of economic instruments and the transfer of water management to the private sector as a means to guarantee acceptable water quality in the future in both developed and developing countries.

Tapping Water Markets

Tapping Water Markets
Author: Terry Lee Anderson
Publisher: Routledge
Total Pages: 218
Release: 2012
Genre: Business & Economics
ISBN: 1617260991
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Tapping Water Markets is about the past, present, and future of water markets. It compares water markets with political water allocation, documents the growth of water markets, and explores the ways in which water markets can be improved and implemented further. This book provides up-to-date information of where and why water shortages are occurring and where and why water markets are evolving to resolve conflicting water uses. Though the main focus is on the United States, it includes examples from other parts of the world to show how water markets are beginning to thrive. It contains institutional detail that is accessible to people who are not economic or hydrologic experts, and comes alive with numerous examples and case studies of water markets. The book begins with an analysis of water institutions as they have varied over time and location. It then covers a range of discrete water management topics including surface water allocation, groundwater management, environmental flows, and water quality trading. The book concludes with predictions about the future of water scarcity and the ability of water markets to shape that future more positively.

Water Markets

Water Markets
Author: Wheeler, Sarah A.
Publisher: Edward Elgar Publishing
Total Pages: 288
Release: 2021-08-27
Genre: Nature
ISBN: 1788976932
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Exploring water scarcity issues in light of the growing crisis in global water management, this book examines the applicability of water markets. It provides an overview and understanding of the presence of water markets across the globe, analysing the ways in which different countries and regions are grappling with water scarcity.

Smart Markets for Water Resources

Smart Markets for Water Resources
Author: John F. Raffensperger
Publisher: Springer
Total Pages: 333
Release: 2017-04-20
Genre: Business & Economics
ISBN: 331955008X
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Why is trade in wholesale water so rare, when markets can actively trade bread, tractors, and electricity? This book shows that water markets fail because of high transaction costs, resulting in inefficient allocations and unpredictable environmental effects. To overcome these obstacles, this book proposes a trading mechanism called a smart market. A smart market is an auction cleared with optimization. A smart market can reduce the transaction costs of water trading, while improving the environmental outcomes. The authors show why a smart market for water is needed, how it would work, and how to implement it. The smart market described here uses a hydrology simulation of the water resource, user bids via the internet, and mathematical optimization, to maximize the economic value of water while meeting all environmental constraints. The book provides the background to understand the smart market for water, and the detail to help the reader start working on its application. The book explores topics such as: Why water should be more expensive near sensitive environmental locations, Ways to set initial allocations of water rights, The role of regulatory oversight, The prerequisites of a water market, and How to counter objections to water markets. The culmination of a decade of investigation, this book combines explanation, examples, and detail to inform policymakers, large water users, environmental organizations, researchers, and a thirsty public.

Aquanomics

Aquanomics
Author: Randy Simmons
Publisher: Routledge
Total Pages: 456
Release: 2017-07-28
Genre: Business & Economics
ISBN: 1351531379
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Water is becoming increasingly scarce. If recent usage trends continue, shortages are inevitable. Aquanomics discusses some of the instruments and policies that may be implemented to postpone, or even avoid, the onset of water crises. These policies include establishing secure and transferable private water rights and extending these rights to uses that traditionally have not been allowed, including altering in-stream flows and ecosystem functions. The editors argue that such policies will help maximize water quantity and quality as water becomes scarcer and more valuable. Aquanomics contains many examples of how this is being accomplished, particularly in the formation of water markets and market-like exchanges of water rights.Many observers see calamity ahead unless water supplies are harnessed and effectively conserved, and unless water quality can be improved. It is also clear that declining water quality is a serious problem in much of the world, as increasing human activities induce high levels of water degradation. Those who voice these concerns, argue the contributors to this volume, fail to consider the forces for improvement inherent in market political-economic systems that can address water issues. The contributors see water quality in economically advanced countries as improving, and they believe this establishes the validity of market-based approaches.

A Twenty-First Century U.S. Water Policy

A Twenty-First Century U.S. Water Policy
Author: Juliet Christian-Smith
Publisher: Oxford University Press
Total Pages: 357
Release: 2012-07-02
Genre: Political Science
ISBN: 0199939381
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It is zero hour for a new US water policy! At a time when many countries are adopting new national approaches to water management, the United States still has no cohesive federal policy, and water-related authorities are dispersed across more than 30 agencies. Here, at last, is a vision for what we as a nation need to do to manage our most vital resource. In this book, leading thinkers at world-class water research institution the Pacific Institute present clear and readable analysis and recommendations for a new federal water policy to confront our national and global challenges at a critical time. What exactly is at stake? In the 21st century, pressures on water resources in the United States are growing and conflicts among water users are worsening. Communities continue to struggle to meet water quality standards and to ensure that safe drinking water is available for all. And new challenges are arising as climate change and extreme events worsen, new water quality threats materialize, and financial constraints grow. Yet the United States has not stepped up with adequate leadership to address these problems. The inability of national policymakers to safeguard our water makes the United States increasingly vulnerable to serious disruptions of something most of us take for granted: affordable, reliable, and safe water. This book provides an independent assessment of water issues and water management in the United States, addressing emerging and persistent water challenges from the perspectives of science, public policy, environmental justice, economics, and law. With fascinating case studies and first-person accounts of what helps and hinders good water management, this is a clear-eyed look at what we need for a 21st century U.S. water policy.

The Economics of Water

The Economics of Water
Author: Georg Meran
Publisher: Springer Nature
Total Pages: 312
Release: 2020-09-04
Genre: Business & Economics
ISBN: 3030484858
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This open access textbook provides a concise introduction to economic approaches and mathematical methods for the study of water allocation and distribution problems. Written in an accessible and straightforward style, it discusses and analyzes central issues in integrated water resource management, water tariffs, water markets, and transboundary water management. By illustrating the interplay between the hydrological cycle and the rules and institutions that govern today’s water allocation policies, the authors develop a modern perspective on water management. Moreover, the book presents an in-depth assessment of the political and ethical dimensions of water management and its institutional embeddedness, by discussing distribution issues and issues of the enforceability of human rights in managing water resources. Given its scope, the book will appeal to advanced undergraduate and graduate students of economics and engineering, as well as practitioners in the water sector, seeking a deeper understanding of economic approaches to the study of water management.