The Illiquidity of Water Markets: Efficient Institutions for Water Allocation in Southeastern Spain

Donna, Javier and Espin-Sanchez, Jose (2015): The Illiquidity of Water Markets: Efficient Institutions for Water Allocation in Southeastern Spain.

Abstract

Water is an essential good for human life but there is controversy on whether it should be allocated using markets. In 1966, the irrigation community in Mula (Murcia, Spain) switched from a market institution, an auction which had been in place in the town for over 700 years, to a system of

• Item Type: MPRA Paper
• Language: English
• Keywords: Institutions, Financial Markets, Market E
• Subjects: D - Microeconomics > D0 - General > D02 - Institutions: Design, Formation, Operations, and Impact; D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D53 - Financial Markets; G - Financial Economics > G1 - General Financial Markets > G14 - Information and Market Efficiency ; Event Studies ; Insider Trading; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q2 - Renewable Resources and Conservation > Q25 - Water

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