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Federal Acquisition Of Water Through Voluntary Transactions For Environmental Purposes

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  • BENJAMIN M. SIMON

Abstract

Throughout U.S. history public land management agencies have attempted to achieve environmental objectives by relying on a broad range of policy tools, including both regulatory and voluntary mechanisms. An important component of these policies has been oriented toward the acquisition of land or partial interests in land from voluntary sellers. However, it has become clear that preserving or restoring damaged ecosystems increasingly requires more than land and easement acquisitions. The procurement of water for environmental purposes is becoming increasingly common. In some regions such acquisitions also represent a significant share of the local water market activity. Given the increasingly important role these transactions play in achieving federal environmental objectives, it makes sense to consider the alternative mechanisms available that could be used for such acquisitions. This paper examines the situations where the federal government has acquired water for environmental purposes and the extent to which competitive mechanisms—such as auctions—could be used in future acquisition efforts.

Suggested Citation

  • Benjamin M. Simon, 1998. "Federal Acquisition Of Water Through Voluntary Transactions For Environmental Purposes," Contemporary Economic Policy, Western Economic Association International, vol. 16(4), pages 422-432, October.
  • Handle: RePEc:bla:coecpo:v:16:y:1998:i:4:p:422-432
    DOI: 10.1111/j.1465-7287.1998.tb00530.x
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    References listed on IDEAS

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    1. Michael H. Rothkopf & Ronald M. Harstad, 1994. "Modeling Competitive Bidding: A Critical Essay," Management Science, INFORMS, vol. 40(3), pages 364-384, March.
    2. Milgrom, Paul, 1989. "Auctions and Bidding: A Primer," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 3-22, Summer.
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    1. Ronald G. Cummings & Charles A. Holt & Susan K. Laury, 2004. "Using laboratory experiments for policymaking: An example from the Georgia irrigation reduction auction," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 23(2), pages 341-363.
    2. Iftekhar, M.S. & Tisdell, J.G. & Connor, J.D., 2013. "Effects of competition on environmental water buyback auctions," Agricultural Water Management, Elsevier, vol. 127(C), pages 59-73.
    3. Holzer, Jorge & McConnell, Kenneth, 2023. "Extraction rights allocation with liquidity constraints," Resource and Energy Economics, Elsevier, vol. 71(C).
    4. William K. Jaeger & Raymond Mikesell, 2002. "Increasing Streamflow To Sustain Salmon And Other Native Fish In The Pacific Northwest," Contemporary Economic Policy, Western Economic Association International, vol. 20(4), pages 366-380, October.
    5. Holzer, Jorge & DePiper, Geret & Lipton, Douglas, 2017. "Buybacks with costly participation," Journal of Environmental Economics and Management, Elsevier, vol. 85(C), pages 130-145.
    6. Johannus Janmaat, 2011. "Water Markets, Licenses, and Conservation: Some Implications," Land Economics, University of Wisconsin Press, vol. 87(1), pages 145-159.
    7. GP Green & JP O'Connor, 2001. "Water Banking And Restoration Of Endangered Species Habitat: An Application To The Snake River," Contemporary Economic Policy, Western Economic Association International, vol. 19(2), pages 225-237, April.

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