On the Theory and Practice of Water Regulation
AbstractWe study water regulation for a schematic water economy representing a wide range of real world situations. A water policy has inter- and intra-temporal components. The first determines the limits on extractions from the naturally replenished sources, given the stochastic nature of recharge processes associated with uncertain precipitation. The intra-temporal regulation is concerned mainly with the allocating of the extracted and produced water among the end-users. The prices that implement the optimal intra-temporal allocation are derived. Regulation issues associated with cost recovery and asymmetric information are discussed.
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Bibliographic InfoPaper provided by Hebrew University of Jerusalem, Department of Agricultural Economics and Management in its series Discussion Papers with number 47173.
Date of creation: 15 Jan 2009
Date of revision:
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Postal: Faculty of Agriculture, Food and Environmental Quality Sciences Hebrew University of Jerusalem, P.O. Box 12, Rehovot 76100
Web page: http://departments.agri.huji.ac.il/economics/indexe.html
More information through EDIRC
scarcity; pricing; optimal allocation; water economy; Resource /Energy Economics and Policy; C61; D82; Q11; Q25;
Find related papers by JEL classification:
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
- Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-05-02 (All new papers)
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