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Determinants of Ditch Company Share Prices in the South Platte River Basin

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  • D. Jay Goodman
  • Charles W. Howe

Abstract

Ditch companies were formed historically to distribute irrigation water. A portfolio of water rights would be acquired and the resultant water distributed proportionately among the members. Active markets for these shares developed because of their relative homogeneity and ease of transfer. This study identifies the factors that determine share prices, by regressing price on supply- and demand-side variables: characteristics of the underlying water rights, anticipated transfer losses, general factors affecting urban demand, and effects unique to each purchasing city. The major factors are found to be seniority of the underlying water rights, average yields, and transfer losses. Copyright 1997, Oxford University Press.

Suggested Citation

  • D. Jay Goodman & Charles W. Howe, 1997. "Determinants of Ditch Company Share Prices in the South Platte River Basin," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 946-951.
    • Handle: RePEc:oup:ajagec:v:79:y:1997:i:3:p:946-951
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    File URL: http://hdl.handle.net/10.2307/1244434
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    Cited by:

    1. Wallander, Steven & Hrozencik, Aaron & Aillery, Marcel, 2022. "Irrigation Organizations: Drought Planning and Response," USDA Miscellaneous 316790, United States Department of Agriculture.
    2. Kris Toll & Craig D. Broadbent & Quinn Beeson, 2019. "Determinants of Water Market Prices in the Western United States," Water Economics and Policy (WEP), World Scientific Publishing Co. Pte. Ltd., vol. 5(03), pages 1-21, July.
    3. Hansen, Kristiana M. & Hovhannisyan, Vardges, 2018. "Determinants of Price in Western Water Markets: A Systems Approach," 2018 Annual Meeting, August 5-7, Washington, D.C. 274303, Agricultural and Applied Economics Association.
    4. Potter, Nicholas A. & Hrozencik, R. Aaron & Wallander, Steven, 2023. "Irrigation Organizations: Water Inflows and Outflows," Economic Brief 338976, United States Department of Agriculture, Economic Research Service.
    5. Ranjan, Ram & Shogren, Jason F., 2004. "Loss Aversion in Water Markets," Working Papers 15656, University of Florida, International Agricultural Trade and Policy Center.
    6. Ronald C. Griffin, 2012. "The Origins and Ideals of Water Resource Economics in the United States," Annual Review of Resource Economics, Annual Reviews, vol. 4(1), pages 353-377, August.

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