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Property Entitlements And Pricing Policies For A Maturing Water Economy

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  • Randall, Alan

Abstract

The Australian water economy is entering a mature phase characterised by inelastic supply of 'new' water and the need for expensive rehabilitation of aging projects. Thus, the policy focus will turn increasingly toward ways of restraining water demand and reallocating existing supplies. A prima facie case is made that the efficiency loss from current water pricing and allocation policy is significant. After considering the relevant welfare economics theory, the theory of administered prices and marketable property rights and some American proposals for reform, a system of transferable water entitlements is proposed and developed.

Suggested Citation

  • Randall, Alan, 1981. "Property Entitlements And Pricing Policies For A Maturing Water Economy," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 25(03), December.
  • Handle: RePEc:ags:ajaeau:22314
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    File URL: http://purl.umn.edu/22314
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    References listed on IDEAS

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    1. Michael C. Lovell, 1963. "Seasonal Adjustment of Economic Time Series and Multiple Regression," Cowles Foundation Discussion Papers 151, Cowles Foundation for Research in Economics, Yale University.
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    Resource /Energy Economics and Policy;

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