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On the Theory and Practice of Water Regulation

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  • Tsur, Yacov

Abstract

We 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.

Suggested Citation

  • Tsur, Yacov, 2009. "On the Theory and Practice of Water Regulation," Discussion Papers 47173, Hebrew University of Jerusalem, Department of Agricultural Economics and Management.
  • Handle: RePEc:ags:huaedp:47173
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    File URL: http://purl.umn.edu/47173
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    Keywords

    scarcity; pricing; optimal allocation; water economy; Resource /Energy Economics and Policy; C61; D82; Q11; Q25;

    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

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