Donna, Javier; Espin-Sanchez, Jose-Antonio - 2013
the town for over 700 years, to a system of fixed quotas with a ban on trading, to allocate water from the town's river …. We present a model, in which farmers face liquidity constraints to explain why the change took place. We show that water … period to estimate the parameters of the model. We estimate both the demand for water and the financial constraints of the …