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Routledge Handbook of Water Economics and Institutions (Paperback)
Loot Price: R1,774
Discovery Miles 17 740
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Routledge Handbook of Water Economics and Institutions (Paperback)
Series: Routledge Environment and Sustainability Handbooks
Expected to ship within 12 - 17 working days
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Growing scarcity of freshwater worldwide brings to light the need
for sound water resource modeling and policy analysis. While a
solid foundation has been established for many specific water
management problems, combining those methods and principles in a
unified framework remains an ongoing challenge. This Handbook aims
to expand the scope of efficient water use to include allocation of
sources and quantities across uses and time, as well as integrating
demand-management with supply-side substitutes. Socially efficient
water use does not generally coincide with private decisions in the
real world, however. Examples of mechanisms designed to incentivize
efficient behavior are drawn from agricultural water use, municipal
water regulation, and externalities linked to water resources.
Water management is further complicated when information is costly
and/or imperfect. Standard optimization frameworks are extended to
allow for coordination costs, games and cooperation, and risk
allocation. When operating efficiently, water markets are often
viewed as a desirable means of allocation because a market price
incentivizes users to move resources from low to high value
activities. However, early attempts at water trading have run into
many obstacles. Case studies from the United States, Australia,
Europe, and Canada highlight the successes and remaining challenges
of establishing efficient water markets.
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