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The Distribution of Economic Rents Arising from Subsidized Water When Land Is Leased

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  • Ray G. Huffaker
  • B. Delworth Gardner

Abstract

A broad distribution of the benefits of federally "underpriced" water may be best promoted by limiting the size of owned acreage and not the sum of owned and leased acreage as required by the Reclamation Reform Act of 1982. Calculated differences between contractual lease payments and associated tenant-expected economic rents were statistically tested to determine if landowners fully capture the latter. Cash lease markets transferred nearly all economic rents anticipated by tenants to landowners in the study area. Share lease markets do the same if share tenants are assumed to be moderately risk averse.

Suggested Citation

  • Ray G. Huffaker & B. Delworth Gardner, 1986. "The Distribution of Economic Rents Arising from Subsidized Water When Land Is Leased," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(2), pages 306-312.
    • Handle: RePEc:oup:ajagec:v:68:y:1986:i:2:p:306-312.
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    File URL: http://hdl.handle.net/10.2307/1241432
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    Cited by:

    1. Schlenker, Wolfram & Hanemann, W. & Fisher, Anthony C., 2002. "The Impact of Global Warming on U.S. Agriculture: An Econometric Analysis," CUDARE Working Papers 198692, University of California, Berkeley, Department of Agricultural and Resource Economics.
    2. Wolfram Schlenker & W. Michael Hanemann & Anthony C. Fisher, 2005. "Will U.S. Agriculture Really Benefit from Global Warming? Accounting for Irrigation in the Hedonic Approach," American Economic Review, American Economic Association, vol. 95(1), pages 395-406, March.
    3. Schlenker, Wolfram & Hanemann, W Michael & Fisher, Anthony C, 2007. "Water Availability, Degree Days, and the Potential Impact of Climate Change on Irrigated Agriculture in California," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt8q8309qn, Department of Agricultural & Resource Economics, UC Berkeley.
    4. Baffes, John & De Gorter, Harry, 2005. "Disciplining agricultural support through decoupling," Policy Research Working Paper Series 3533, The World Bank.

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