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Deviations from optimal pricing of Lower Colorado River water

Hoffman, Elizabeth (1978) Deviations from optimal pricing of Lower Colorado River water. Environmental Quality Laboratory, Open File Report, 78-6. California Institute of Technology , Pasadena, CA. (Unpublished) http://resolver.caltech.edu/CaltechAUTHORS:20121001-113342137

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Abstract

While a water shortage will not develop immediately because Lake Mead in the Lower Basin and Lake Powell in the Upper Basin are both full, some further rationing scheme will have to be employed in the near future. This paper sets out a general model for the allocation of river water and discusses the inefficiencies in the current allocation system. Then, recognizing the difficulties involved in making second-best policy prescriptions, it suggests some ways that inefficiencies might be reduced without upsetting the delicate balance of property rights and income distributions associated with the use of that water. The paper is divided into three sections. First, an optimal pricing scheme for water is outlined and discussed. The second section identifies important ways in which current pricing schemes differ from the optimum. Finally, some policy changes are suggested.


Item Type:Report or Paper (Technical Report)
Group:Environmental Quality Laboratory
Funders:
Funding AgencyGrant Number
Department of Energy (DOE)EY-76-G-03-1305
Record Number:CaltechAUTHORS:20121001-113342137
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20121001-113342137
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:34592
Collection:CaltechEQL
Deposited By: George Porter
Deposited On:01 Oct 2012 20:46
Last Modified:27 Dec 2012 02:47

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