Smart Markets for Water Resources A Manual for Implementation /

• Main Authors: Raffensperger, John F. (Author), Milke, Mark W. (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Cham : Springer International Publishing : Imprint: Springer, 2017.
• Series: Global Issues in Water Policy, 12
• Subjects: Energy policy.; Energy and state.; Environmental management.; Hydrogeology.; Operations research.; Management science.; Environmental health.; Environmental economics.; Economics.; Environmental Economics.; Water Policy/Water Governance/Water Management.; Operations Research, Management Science.; Environmental Health.; Energy Policy, Economics and Management.

Why is trade in wholesale water so rare, when markets can actively trade bread, tractors, and electricity? This book shows that water markets fail because of high transaction costs, resulting in inefficient allocations and unpredictable environmental effects. To overcome these obstacles, this book p...

Table of Contents:

• 1. Water allocation: the joint problem of interaction and transaction costs
• 2. Water allocation approaches: theory and practice
• 3. How water flows, how it is modelled, and how we optimize it
• 4. Introduction to smart markets
• 5. A prototype common pool smart market for water
• 6. Case studies (much more to come if space permits)
• 7. Water markets in a stochastic world
• 8. Establishing a market
• 9. Initial allocation of rights
• 10. Expectations for participants-traders
• 11. Market behavior
• 12. Critical perspectives on water trading
• 13. Concluding perspectives
• 14. Appendix: outline of market-clearing code
• 15. References.