Water Markets and Water Quality

Catherine Kling, Marca Weinberg and James Wilen

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: In addition to improving the allocative efficiency of water use, water markets may reduce irrigation-related water quality problems. This potential benefit is examined with a nonlinear programming model developed to simulate agricultural decision-making in a drainage problem area in California's San Joaquin Valley. Results indicate that a 30% drainage goal is achievable through improvements in irrigation practices and changes in cropping patterns induced by a water market. Although water markets will not generally achieve a least-cost solution, they may be a practical alternative to economically efficient, but informationally intensive, environmental policies such as Pigouvian taxes.

Date: 1993-01-01
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Published in American Journal of Agricultural Economics, January 1993, vol. 75 no. 2, pp. 278-91

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Journal Article: Water Markets and Water Quality (1993)
Working Paper: Water Markets and Water Quality (1990)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:1572

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