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This paper assesses the economic value ofchanges in the attributes of farmers’ irrigation waterproperty rights in Tunisia. Changes on attributesgenerated by the transfer process of the property rightsfrom the collective to the individual level in addition tochanges in “constitutional” attributes were integratedinto three scenarios. The valuation was conducted usingthe Contingent Valuation Method through the elicitationof individuals’ willingness to pay. Results show positivewillingness to pay values for all scenarios. However,farmers of the studied region are shown willing to paymore for changes in the constitutional attributes.Furthermore their willingness to pay appears to be mostaffected by their perceptions concerning theorganization and the functioning of the water users’association to which they belong and by theirproductivity.