IDEAS home Printed from https://ideas.repec.org/a/bla/ajecsc/v49y1990i1p35-44.html
   My bibliography  Save this article

Water Rights Markets: Social and Legal Considerations

Author

Listed:
  • Victor Brajer
  • Wade E. Martin

Abstract

. Complete reliance on water rights marketsfor an efficient allocation fails to recognize the impact of currently existing social externalities and legal uncertainties. Specifically, it is possible that water may have a “community value” which may not be captured in the market price of a water right, there by precluding an efficient market solution. Also, there are uncertainties related to the legal/institutional process currently governing the use of western water which have the same implications for the standard notion of economic efficiency. These result primarily from inconsistencies in the application of certain legal principles, and the incomplete definition and assignment of ownership rights to the use of water.

Suggested Citation

  • Victor Brajer & Wade E. Martin, 1990. "Water Rights Markets: Social and Legal Considerations," American Journal of Economics and Sociology, Wiley Blackwell, vol. 49(1), pages 35-44, January.
    • Handle: RePEc:bla:ajecsc:v:49:y:1990:i:1:p:35-44
    DOI: 10.1111/j.1536-7150.1990.tb02257.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1536-7150.1990.tb02257.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1536-7150.1990.tb02257.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Easter, K. William & Feder, Gershon, 1996. "Water Institutions And Economic Incentives To Ameliorate Market And Government Failures," Staff Papers 14217, University of Minnesota, Department of Applied Economics.
    2. Sperow, Mark, 2004. "An Analysis Of The Economic Impact Of Water Transfers From Agricultural To Urban Uses," 2004 Annual meeting, August 1-4, Denver, CO 20327, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. 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), pages 1-11.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ajecsc:v:49:y:1990:i:1:p:35-44. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0002-9246 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.