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Valley regarded as wasteful irrigation practices and unreasonable water usage. Economic and political power in California …"Economic and political power in California's water system was born of monopolist Miller & Lux's water rights: they are … ghostly and forgettable in the wet years, vexing and implacable in the dry. Drought, Water Law, and the Origins of California …
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We estimate market power in California's thin water market. Market frictions may distort the potential welfare gains … typical water market setting. We then use this solution to estimate market power in a newly assembled dataset on California …
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