Chakravorty, Ujjayant; Hochman, Eithan; Umetsu, Chieko; … - In: Journal of Economic Dynamics and Control 33 (2009) 2, pp. 463-476
The distribution of water resources is characterized by increasing returns to scale. Distribution links water generation to its end-use. Standard economic analysis overlooks the interaction among these micro-markets - generation, distribution and end-use. We compare water allocation when there...