Libecap, Gary D.; Brewer, Jedidiah; Glennon, Robert; … - National Bureau of Economic Research (NBER) - 2007
of water transfers across 12 western states from 1987-2005. We find that prices are higher for agriculture …-to-urban trades versus within-agriculture trades, in part, reflecting the differences in marginal values between the two uses. Prices … for urban use are also growing relative to agricultural use. Markets are responding in that the number of agriculture …