Prices versus Rationing: Marshallian Surplus and Mandatory Water Restrictions
An aggregate daily water demand for Sydney is estimated and used to calculate the difference in Marshallian surplus between using the metered price of household water to regulate total consumption versus mandatory water restrictions for the period 2004/2005. The loss in Marshallian surplus from using mandatory water restrictions is calculated to be $235 million. On a per capita basis this equates to approximately $55 per person or about $150 per household - a little less than half the average Sydney household water bill in 2005. Copyright © 2008 The Economic Society of Australia.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 84 (2008)
Issue (Month): s1 (09)
|Contact details of provider:|| Postal: Central Council Administration, L.P.O. Box 2161, Hawthorn VIC 3122|
Phone: 61 3 9497 4140
Fax: 61 3 9497 4140
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0013-0249
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=0013-0249|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- David Hensher & Nina Shore & Kenneth Train, 2006. "Water Supply Security and Willingness to Pay to Avoid Drought Restrictions," The Economic Record, The Economic Society of Australia, vol. 82(256), pages 56-66, 03.
- R. Quentin Grafton & Tom Kompas, 2007.
"Pricing Sydney water ,"
Australian Journal of Agricultural and Resource Economics,
Australian Agricultural and Resource Economics Society, vol. 51(3), pages 227-241, 09.
- Grafton, R. Quentin & Kompas, Tom, 2002. "Pricing Sydney water," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 51(3), September.
- Krinsky, Itzhak & Robb, A Leslie, 1986. "On Approximating the Statistical Properties of Elasticities," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 715-19, November.
- Hugh Sibly, 2006. "Efficient Urban Water Pricing," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 39(2), pages 227-237, 06.
- Maria de los Angeles Garcia Valinas, 2006. "Analysing rationing policies: drought and its effects on urban users' welfare (Analysing rationing policies during drought)," Applied Economics, Taylor & Francis Journals, vol. 38(8), pages 955-965.
- Quiggin, John, 2006.
"Urban water supply in Australia: the option of diverting water from irrigation,"
Risk and Sustainable Management Group Working Papers
149857, University of Queensland, School of Economics.
- John Quiggin, 2006. "Urban water supply in Australia: the option of diverting water from irrigation," Murray-Darling Program Working Papers WP3M06, Risk and Sustainable Management Group, University of Queensland.
- Renwick, Mary E. & Green, Richard D., 2000. "Do Residential Water Demand Side Management Policies Measure Up? An Analysis of Eight California Water Agencies," Journal of Environmental Economics and Management, Elsevier, vol. 40(1), pages 37-55, July.
- Mansur, Erin T. & Olmstead, Sheila M., 2012.
"The value of scarce water: Measuring the inefficiency of municipal regulations,"
Journal of Urban Economics,
Elsevier, vol. 71(3), pages 332-346.
- Erin T. Mansur & Sheila M. Olmstead, 2007. "The Value of Scarce Water: Measuring the Inefficiency of Municipal Regulations," NBER Working Papers 13513, National Bureau of Economic Research, Inc.
- Mary E. Renwick & Sandra O. Archibald, 1998. "Demand Side Management Policies for Residential Water Use: Who Bears the Conservation Burden?," Land Economics, University of Wisconsin Press, vol. 74(3), pages 343-359.
- Donna Brennan & Sorada Tapsuwan & Gordon Ingram, 2007. "The welfare costs of urban outdoor water restrictions," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 51(3), pages 243-261, 09.
When requesting a correction, please mention this item's handle: RePEc:bla:ecorec:v:84:y:2008:i:s1:p:s57-s65. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.