This paper looks at the risk dimension of water markets under uncertain water supply. We model market participants' decisions under uncertainty and evaluate gains from trade under two different market arrangements. These differ in the confidence that irrigators can place in the water...

The report provides a starting point for a debate on the use of irrigation subsidies in Spain, quantified using the GSI's Method for quantifying irrigation subsidies. The report found subsidies to irrigated agriculture are in the range of €900 to €1120 million per year. More than half of...

Water availability in semiarid regions commonly exhibits patterns of extreme variability. Even in basins with large infrastructure development, some users are subject to low levels of water reliability, incurring economic losses during periods of scarcity. More flexible instruments, such as...

Water availability in semiarid regions commonly exhibits patterns of extreme variability. Even in basins with large infrastructure development, some users are subject to low levels of water reliability, incurring economic losses during periods of scarcity. More flexible instruments, such as...