Open AccessCreating Real Time Water Leasing Market Institutions: An Integrated Economic and Hydrological Methodology
Author(s) -
Broadbent Craig D.,
Brookshire David S.,
Coursey Don,
Tidwell Vince
Publication year - 2010
Publication title -
journal of contemporary water research and education
Language(s) - English
Resource type - Journals
eISSN - 1936-704X
pISSN - 1936-7031
DOI - 10.1111/j.1936-704x.2010.00074.x
Subject(s) - lease , flexibility (engineering) , explosive material , population , business , natural resource economics , environmental economics , water resource management , environmental science , economics , finance , geography , demography , management , archaeology , sociology
Explosive population growth coupled with stable or decreasing water supplies has often led to stress upon already over‐allocated watersheds in the western United States. Water markets that allow the temporary transfer (i.e., lease) of a water right are a possible mechanism to provide flexibility to water managers to fulfill water demands in these over‐allocated watersheds. This paper addresses the need for an integrated (hydrologic and economic) model to examine the feasibility of a water leasing market. We propose a five stage procedure to designing and implementing a real time water leasing market.