Dynamic Recontracting of Water Rights

Rodney Beard and Stuart McDonald ()

No 137781, 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia from Australian Agricultural and Resource Economics Society

Abstract: Scarcity of water has become a major issue facing many nations around the world. To improve the efficiency of water usage there has been consid- erable interest in recent years in trading water. A major issue in trading water rights is the problem of how an allocation system can be designed in perpetuity that also has desirable properties at each point of time. This is an isssue of the time consistency of the contract to trade water. In this paper we develop a model of dynamic recontracting of water rights and study time consistency properties of the resultant contracts using the ideas of Filar and Petrosjan [7].

Keywords: Environmental Economics and Policy; Resource /Energy Economics and Policy (search for similar items in EconPapers)
Pages: 14
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/137781/files/2005_beard.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:aare05:137781

DOI: 10.22004/ag.econ.137781

Access Statistics for this paper

More papers in 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia from Australian Agricultural and Resource Economics Society Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().