In the Australian Murray-Darling Basin (MDB) the combination of severe and prolonged droughts and historic water management decisions to divert water for cultivation stressed water resources in such an intensive manner that wetlands went dry and rivers are now far from a natural flow. More...

Many of the import competing sectors in Moroccan agriculture are protected while water in irrigated agriculture is priced below its marginal value product. Establishing a water market in this pre-trade reform environment can be welfare decreasing. Further, as the shadow price of water is...

This paper has three basic purposes. The first is to review a rigorous framework for the analysis of commons dilemmas proposed by Dasgupta that avoids many basic faults of the usual apparatus. The second is to relate this analysis of the commons to models of external effects and public foods....