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1 Weinberg, M.; Kling, C. L.; Wilen, J. E.. 1993. Water markets and water quality. American Journal of Agricultural Economics, 75:278-291.
(Location: IWMI-HQ Call no: P 2899 Record No: H013322)
In addition to improving the allocative efficiency of water use, water markets may reduce irrigation-related water quality problems. The potential benefit is examined with a nonlinear programming model developed to simulate agricultural decision-making in a drainage problem area in California's San Joaquin Valley. Results indicate that a 30% drainage goal is achievable through improvements in irrigation practices and changes in cropping patterns induced by water market. Although water markets will not generally achieve a least-cost solution, they may be a practical alternative to economically efficient, but informationally intensive, environmental policies such as Pigouvian taxes.
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