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| Tsur, Yacov. |
| We study water regulation for a schematic water economy representing a wide range of real world situations. A water policy has inter- and intra-temporal components. The first determines the limits on extractions from the naturally replenished sources, given the stochastic nature of recharge processes associated with uncertain precipitation. The intra-temporal regulation is concerned mainly with the allocating of the extracted and produced water among the end-users. The prices that implement the optimal intra-temporal allocation are derived. Regulation issues associated with cost recovery and asymmetric information are discussed. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Scarcity; Pricing; Optimal allocation; Water economy; Resource /Energy Economics and Policy; C61; D82; Q11; Q25. |
| Ano: 2009 |
URL: http://purl.umn.edu/47503 |
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| Tsur, Yacov. |
| We study water regulation for a schematic water economy representing a wide range of real world situations. A water policy has inter- and intra-temporal components. The first determines the limits on extractions from the naturally replenished sources, given the stochastic nature of recharge processes associated with uncertain precipitation. The intra-temporal regulation is concerned mainly with the allocating of the extracted and produced water among the end-users. The prices that implement the optimal intra-temporal allocation are derived. Regulation issues associated with cost recovery and asymmetric information are discussed. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Scarcity; Pricing; Optimal allocation; Water economy; Resource /Energy Economics and Policy; C61; D82; Q11; Q25. |
| Ano: 2009 |
URL: http://purl.umn.edu/47173 |
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| Coram, Alex. |
| This paper uses a control theory approach to analyse the collectively optimal rate of extraction along a river system and constructs a bidding mechanism that would produce the required prices at each point. It also analyses some characteristics of this mechanism. This approach brings some new perspective to existing work on externalities. It also helps bring to light some aspects of the system as a whole that may be less obvious in a more piecemeal analysis, including the fact that there may not be an optimal solution to the allocation problem. Although the bidding mechanism may be difficult to implement, it may be possible to design various forms of hybrid schemes that have practical value. |
| Tipo: Journal Article |
Palavras-chave: Control theory; Mechanism design; Optimal allocation; Rights markets; Waters; Resource /Energy Economics and Policy. |
| Ano: 2006 |
URL: http://purl.umn.edu/116974 |
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