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Agri-environment schemes were introduced into the Common agricultural policy (CAP) in 1992 as a financial instrument to support farming practices contributing to protect the environment and to preserve natural resources. They are based on the voluntary provision of environmental services (above...

Most existing water markets combine water rights trading and water allocation trading. Offering different levels of security for rights can make the market more sophisticated and allow water users to manage the risks of supply uncertainty better. We compare results from a laboratory experiment...