Local water markets for irrigation in southern Spain: A multicriteria approach

Manuel Arriaza Balmón, Jose A. Gomez-Limon and Martin Upton

Australian Journal of Agricultural and Resource Economics, 1997, vol. 46, issue 01, 23

Abstract: Spanish authorities have recently approved a new legislative framework for the creation of local water markets to improve allocative efficiency for this scarce resource. This paper analyses the potential impacts of the policy. A utility function for three groups of farmers was elicited, using a method that does not require interaction with the decision‐makers. Utility was measured as a function of the first two moments of the distribution of total gross margin. The utility functions were then used to simulate farmers' responses to changes in the price of water.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Date: 1997
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Citations: View citations in EconPapers (23)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aareaj:118068

DOI: 10.22004/ag.econ.118068

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