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A Distinct Policy Which Forms a Market Within the California State Water Project
Author(s) -
Curie Madalene Mary
Publication year - 1985
Publication title -
water resources research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.863
H-Index - 217
eISSN - 1944-7973
pISSN - 0043-1397
DOI - 10.1029/wr021i011p01717
Subject(s) - nonmarket forces , institution , order (exchange) , state (computer science) , construct (python library) , water transfer , water industry , process (computing) , economics , business , engineering , market economy , water resource management , law , political science , water supply , factor market , environmental science , finance , environmental engineering , computer science , algorithm , programming language , operating system
There are recurring suggestions that California water rights markets ought to be formed in order to capture estimated economic losses. Such markets would have to be created from the existing nonmarket water institution. This paper exemplifies a process of examining a particular water project, the California State Water Project, within an economic framework in order to construct a distinct proposal for market formation. Surprisingly, the law need not be changed in this case. The sufficient condition for market formation is the codification of the project's water transfer policy.