endogenous growth model for the evolution of water rights systems
Resource information
Date of publication
december 2015
Resource Language
ISBN / Resource ID
AGRIS:US201600089627
Pages
677-687
This article presents a model to help explain the transition path from one water management system to another, typically a commons framework to one of tradable permit‐based property rights. Furthermore, drawing from transaction cost literature, the model demonstrates how this takes place when externalities (the strain on water resources) become severe enough to warrant the increased transaction costs inherent with more complex water rights management frameworks.