Water Transfers for a Changing Climate

Posted: Sep 13, 2011
Written by: 
Mark Squillace

For decades, resource economists and policy wonks have touted the value of water markets to solve water scarcity problems.  Water markets have special appeal in the Western United States where the prior appropriation doctrine favors historic, low-value agricultural water rights over far more valuable domestic water rights.  Yet despite the allure of water markets for moving water, especially from agricultural to urban use, the legal, political, and practical obstacles to the operation of such markets have proven far more intractable than market theory would predict...

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