The authors argue that efficient water allocation is possible through markets as long as water rights are well-defined, enforced, and transferable. They provide a framework for considering third-party and free rider affects from water trades. From this framework, they consider the prospects for...

"Free market environmentalism is an optimistic paradigm for linking dynamic environments with dynamic economies using property rights and markets to provide incentives for good resource stewardship. This book provides a new paradigm for environmentalism, offering examples of how free market...