Grafton, R. Quentin; Libecap, Gary D.; Edwards, Eric C.; … - International Centre for Economic Research (ICER) - 2011
Water markets in Australia’s Murray-Darling Basin (MDB) and the US west are compared in terms of their ability to allocate scarce water resources. The study finds that the gains from trade in the MDB are worth hundreds of millions of dollars per year. Total market turnover in water rights...