WATER RIGHTS HETEROGENEITY AND PRICE DETERMINATION: HOW MARKET AND PRODUCT ATTRIBUTES AFFECT AGRICULTURAL WATER MARKET PRICES

Ereney Hadjigeorgalis

No 19790, 2002 Annual meeting, July 28-31, Long Beach, CA from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This research aims to further the understanding of price behavior in predominantly agricultural water markets through a hedonic estimation of the impact of market and product attributes on water rights prices in the Cachapoal River Valley of South-Central Chile. It is hypothesized that the price of a water right in the valley is primarily a function of the reliability of that water right (product attribute) and the increasing relative scarcity of water in the valley (market attribute). This article aims to test the joint hypotheses that reliability and relatively scarcity positively affect water rights prices. In addition, it will estimate the magnitude of these product and market attributes on market prices.

Keywords: Demand and Price Analysis; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Pages: 17
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea02:19790

DOI: 10.22004/ag.econ.19790

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