IDEAS home Printed from https://ideas.repec.org/p/een/eenhrr/0947.html
   My bibliography  Save this paper

Water Markets and Scarcity: Australia’s Murray Darling Basin and the US Southwest

Author

Listed:
  • R. Quentin Grafton

    () (Crawford School of Public Policy, The Australian National University)

  • Clay Landry

    (West Water Research)

  • Gary D. Libecap

    (Bren School of Environmental Science and Management and Economics Department, University of California Santa Barbara)

  • R.J. (Bob) O’Brien

    (Percat Water)

Abstract

Water markets in Australia’s Murray-Darling Basin and the western US are compared in terms of their ability to mitigate water scarcity. The two regions share: (1) climate variability that requires large investment in water storages; (2) the need for internal and cross-border (state) water management; (3) an historical over allocation of water to irrigators; and (4) increasing competition among different uses (agricultural, environmental and recreational in situ uses, urban demand). The evaluation of the two markets suggests that on-going water market reform along with processes to account for the public interest can promote equity, environmental sustainability and economic efficiency.

Suggested Citation

  • R. Quentin Grafton & Clay Landry & Gary D. Libecap & R.J. (Bob) O’Brien, 2009. "Water Markets and Scarcity: Australia’s Murray Darling Basin and the US Southwest," Environmental Economics Research Hub Research Reports 0947, Environmental Economics Research Hub, Crawford School of Public Policy, The Australian National University.
  • Handle: RePEc:een:eenhrr:0947
    as

    Download full text from publisher

    File URL: https://crawford.anu.edu.au/research_units/eerh/pdf/EERH_RR47.pdf
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. R. Quentin Grafton & Michael B. Ward, 2008. "Prices versus Rationing: Marshallian Surplus and Mandatory Water Restrictions," The Economic Record, The Economic Society of Australia, vol. 84(s1), pages 57-65, September.
    2. Jedidiah Brewer & Robert Glennon & Alan Ker & Gary D. Libecap, 2007. "Water Markets in the West: Prices, Trading, and Contractual Forms," NBER Working Papers 13002, National Bureau of Economic Research, Inc.
    3. Lueck, Dean, 1995. "The Rule of First Possession and the Design of the Law," Journal of Law and Economics, University of Chicago Press, vol. 38(2), pages 393-436, October.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Nadine Wittmann, 2014. "A Microeconomic Perspective on Water Resources Management: Analyzing the Effects on Optimal Land Rents Along a River Basin," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 28(5), pages 1309-1325, March.
    2. He, Lixia & Horbulyk, Theodore M. & Ali, Md. Kamar & Le Roy, Danny G. & Klein, K.K., 2012. "Proportional water sharing vs. seniority-based allocation in the Bow River basin of Southern Alberta," Agricultural Water Management, Elsevier, vol. 104(C), pages 21-31.
    3. Wittmann Nadine, 2013. "A microeconomic analysis of the socio-economic situation along the Kat River Water Basin: Comment," Agrekon, Taylor & Francis Journals, vol. 52(2), pages 128-135, June.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:een:eenhrr:0947. 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: (CAP Web Team). General contact details of provider: http://edirc.repec.org/data/asanuau.html .

    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 CitEc recognized a reference but did not link an item in RePEc 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.