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Water Resource Economics: The Analysis of Scarcity, Policies, and Projects

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  • Ronald C. Griffin

    ()
    (Texas A&M University)

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    Abstract

    Economics brings powerful insights to water management, but most water professionals receive limited training in it. This text offers a comprehensive development of water resource economics that is accessible to engineers and natural scientists as well as economists. The goal is to build a practical platform for understanding and performing economic analysis using both theoretical and empirical tools. The mathematics needed to understand the subjects covered in this text include basic optimization methods and integral calculus. Familiarity with microeconomics or natural resource economics is helpful, but all the economics needed is presented and developed progressively in the text. Many water-based example calculations are included. Thus the book can be used for independent study as well as course work. The book focuses on the scarcity of water quantity (rather than water quality). The author presents the economic theory of resource allocation, recognizing the peculiarities imposed by water, and expands the theory to encompass time-defined matters such as ground water depletion. He then discusses such subjects as institutional economics, water law, how economics is used in policy and cost-benefit analysis, the roles of water marketing and water pricing, demand and supply estimation, privatization, and modeling with demand and supply functions. As an aid to readers with specific interests, references to recent literature are given for all of these topics. Each chapter ends with a summary and exercises. All graphic portrayals of economic theory and most calculations are performed using Mathematica software. These programs are downloadable, but their use is entirely optional.

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    Bibliographic Info

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    This book is provided by The MIT Press in its series MIT Press Books with number 026207267x and published in 2006.

    Volume: 1
    Edition: 1
    ISBN: 0-262-07267-X
    Handle: RePEc:mtp:titles:026207267x

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    Web page: http://mitpress.mit.edu

    Related research

    Keywords: water management; water resource economics;

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    Cited by:
    1. Erik Ansink & Harold Houba, 2010. "Market Power in Water Markets," Tinbergen Institute Discussion Papers 10-054/1, Tinbergen Institute, revised 16 May 2011.
    2. Monteiro, Henrique & Roseta-Palma, Catarina, 2007. "Caracterização dos tarifários de abastecimento de água e saneamento em Portugal
      [Portuguese Water Supply and Sewage Tariffs Report]
      ," MPRA Paper 4238, University Library of Munich, Germany.
    3. Athanasios Kampas & Anna Vasilaki & Athanasios Petsakos & Angeliki Stefopoulou, 2013. "Irrigation Full Cost Assessment: The case of the Pinios Local Organization for Land Reclamation, Greece," Working Papers 2013-1, Agricultural University of Athens, Department Of Agricultural Economics.
    4. Wang, Hua & Xie, Jian & Li, Honglin, 2008. "Domestic water pricing with household surveys : a study of acceptability and willingness to pay in Chongqing, China," Policy Research Working Paper Series 4690, The World Bank.
    5. Thomas Kaeo Duarte & Sittidaj Pongkijvorasin & James Roumasset & Daniel Amato & Kimberly Burnett, 2010. "Optimal Management of a Hawaiian Coastal Aquifer with Near-Shore Marine Ecological Interactions," Working Papers 2010-08, University of Hawaii Economic Research Organization, University of Hawaii at Manoa.
    6. Whited, Melissa, 2010. "Economic Impacts of Irrigation Water Transfers on Uvalde County, Texas," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 40(2).
    7. Boyer, Christopher N. & Larson, James A. & Roberts, Roland K. & McClure, Angela T. & Tyler, Donald D., 2014. "The impact of field size and energy cost on the profitability of supplemental corn irrigation," Agricultural Systems, Elsevier, vol. 127(C), pages 61-69.
    8. Qureshi, Muhammad Ejaz & Ahmad, Mobin-ud-Din & Whitten, Stuart M. & Kirby, Mac, 2012. "A multi-period positive mathematical programming approach for assessing economic impact of drought in the Murray-Darling Basin, Australia," 2012 Conference (56th), February 7-10, 2012, Freemantle, Australia 124418, Australian Agricultural and Resource Economics Society.
    9. David R. Bell & Ronald C. Griffin, 2011. "Urban Water Demand with Periodic Error Correction," Land Economics, University of Wisconsin Press, vol. 87(3), pages 528-544.
    10. Sittidaj Pongkijvorasin & James Roumasset & Thomas Kaeo Duarte & Kimberly Burnett, 2008. "Renewable Resource Management with Stock Externalities: Coastal Aquifers and Submarine Groundwater Discharge," Working Papers 200808, University of Hawaii at Manoa, Department of Economics.
    11. Aguilar-Benitez, Ismael, 2011. "El cobro por una factibilidad sostenible del agua y el crecimiento urbano disperso en el norte de México
      [Payment for urban water feasibility and the urban dispersed growth in Northern Mexico (a p
      ," MPRA Paper 36481, University Library of Munich, Germany.
    12. Griffin, Ronald C. & Mjelde, James W., 2011. "Distributing water's bounty," Ecological Economics, Elsevier, vol. 72(C), pages 116-128.

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