The Development of Water Rights in Colorado
AbstractProperty rights will be more carefully defined and enforced when the value of a resource rises or the probability of losing the resource increases. A simple model is estimated on litigation data for Colorado to test this hypothesis. According to the model, the number of water rights cases will rise when the demand for water increases or the supply of water decreases. Several versions of such a model with a deterministic and, alternatively, a stochastic trend component are estimated. The estimates are robust across model type and confirm the theoretical conclusions on the determinants of water rights cases.
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Bibliographic InfoPaper provided by Middle Tennessee State University, Department of Economics and Finance in its series Working Papers with number 200404.
Date of creation: Sep 2004
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Web page: http://www.mtsu.edu/~berc/working/Economics_Working_Papers.html
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Water Rights; Property Rights; Western U.S. History; Structural Time Series;
Find related papers by JEL classification:
- Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
- N41 - Economic History - - Government, War, Law, International Relations, and Regulation - - - U.S.; Canada: Pre-1913
- N51 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - U.S.; Canada: Pre-1913
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-08-13 (All new papers)
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