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2017 | OriginalPaper | Buchkapitel

2. Water Markets: Theory and Practice

verfasst von : John F. Raffensperger, Mark W. Milke

Erschienen in: Smart Markets for Water Resources

Verlag: Springer International Publishing

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Abstract

The purpose of this chapter is to review some economic fundamentals to market approaches, to point to the extensive literature on markets by water policy analysts, and to examine applications of water markets worldwide.
This chapter first reviews the problem of hydrological externalities, the Coase Theorem, and why the Coase Theorem does not usually apply to water resources. The next section observes that many researchers have shown the improvements that society should expect from water markets, noting especially the high transaction cost associated with almost all water markets. The final sections examine actual experiences in various countries that have attempted to encourage water trading.

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Metadaten
Titel
Water Markets: Theory and Practice
verfasst von
John F. Raffensperger
Mark W. Milke
Copyright-Jahr
2017
DOI
https://doi.org/10.1007/978-3-319-55008-4_2