Local water markets for irrigation in southern Spain: A multicriteria approach
AbstractSpanish authorities have recently approved a new legislative framework for the creation of local water markets to improve allocative efficiency for this scarce resource. This paper analyses the potential impacts of the policy. A utility function for three groups of farmers was elicited, using a method that does not require interaction with the decision‐makers. Utility was measured as a function of the first two moments of the distribution of total gross margin. The utility functions were then used to simulate farmers' responses to changes in the price of water.
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Bibliographic InfoArticle provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural and Resource Economics.
Volume (Year): 46 (2002)
Issue (Month): 1 (March)
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