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Discounting and policy options for sustainable management of the Murray-Darling River System

John Quiggin ()

No WPM04_1, Murray-Darling Program Working Papers from Risk and Sustainable Management Group, University of Queensland

Abstract: Management of the Murray-Darling river system involves a large number of users with imprecisely defined rights, and an aggregate rate of resource use that is environmentally unsustainable. One possible policy response is to make formal or informal contracts with users, under which users receive current benefits in return for a commitment to forgo usage rights in future. In this paper, this issue is explored with specific reference to the possibility of repurchasing the renewal rights for irrigation licenses.

Keywords: Discounting; property rights; Murray-Darling (search for similar items in EconPapers)
JEL-codes: Q2 (search for similar items in EconPapers)
Date: 2004-01, Revised 2003-01
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