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Predicting Groundwater Trading Participation In The Upper Republican Natural Resource District

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  • Juchems, Elizabeth M.
  • Schoengold, Karina
  • Brozovic, Nicholas

Abstract

Previous research on water trading has focused on surface water trading and theoretical approaches to analyzing groundwater trading. Empirical analysis of groundwater trading is a new area of study due in part to the previous lack of recorded usage, trade data and binding constraints on groundwater use by landowners. Groundwater trading can help move water from low-value to high-value areas of use for the benefit of the participating traders and general public. The paper predicts participation in groundwater trading and the directions of trades among participants. Specifically, the paper considers both formal and informal trading of groundwater used for crop irrigation purposes and attempts to identify those characteristics that predict the probability of trade participation and whether an individual is a buyer or seller of groundwater rights. Results from this research indicate a strong desire to participate in trades, but high transactions costs have limited the number of trades that have occurred. Utilizing empirical models improves the accuracy of predicting trade participation and direction, and therefore the accuracy of models of trade effects on water supplies and stream flows used in policy and decision making.

Suggested Citation

  • Juchems, Elizabeth M. & Schoengold, Karina & Brozovic, Nicholas, 2013. "Predicting Groundwater Trading Participation In The Upper Republican Natural Resource District," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150511, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea13:150511
    DOI: 10.22004/ag.econ.150511
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    References listed on IDEAS

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    1. James Murphy & Ariel Dinar & Richard Howitt & Steven Rassenti & Vernon Smith, 2000. "The Design of ``Smart'' Water Market Institutions Using Laboratory Experiments," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 17(4), pages 375-394, December.
    2. Negri, Donald H. & Brooks, Douglas H., 1990. "Determinants Of Irrigation Technology Choice," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(2), pages 1-12, December.
    3. He, Xue-Feng & Cao, Huhua & Li, Feng-Min, 2007. "Econometric analysis of the determinants of adoption of rainwater harvesting and supplementary irrigation technology (RHSIT) in the semiarid Loess Plateau of China," Agricultural Water Management, Elsevier, vol. 89(3), pages 243-250, May.
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    Cited by:

    1. Sarah Ann Wheeler & Alec Zuo & John Kandulu, 2021. "What Water are We Really Pumping? The Nature and Extent of Surface and Groundwater Substitutability in Australia and Implications for Water Management Policies," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 43(4), pages 1550-1570, December.
    2. Mani Rouhi Rad & Taro Mieno & Nicholas Brozović, 2022. "The Role of Search Frictions and Trading Ratios in Tradable Permit Markets," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 82(1), pages 101-132, May.

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