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Water transfers, irrigation districts, and the compensation problem

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  • Rodney T. Smith

Abstract

Despite statutory reforms and potentially large economic gains from water trades, water markets have been slow to develop throughout the West. This article examines an institutional impediment that has not received adequate attention: How can irrigation districts structure water trades to benefit their customers? It shows how this question can be satisfactorily answered by organizing a proposed water trade like a friendly corporate tender offer. While seemingly a radical procedure, the method conforms with a simple economic interpretation of statute and case law that (1) describes the trustee relationship between irrigation district boards and their customers and (2) defines the equitable and beneficial interest of landowners in the district's water supply.

Suggested Citation

  • Rodney T. Smith, 1989. "Water transfers, irrigation districts, and the compensation problem," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 8(3), pages 446-465.
    • Handle: RePEc:wly:jpamgt:v:8:y:1989:i:3:p:446-465
    DOI: 10.2307/3324934
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    Cited by:

    1. Chatterjee, Bishu & Howitt, Richard E. & Sexton, Richard J., 1998. "The Optimal Joint Provision of Water for Irrigation and Hydropower," Journal of Environmental Economics and Management, Elsevier, vol. 36(3), pages 295-313, November.
    2. Xinde Ji & Kelly M. Cobourn, 2018. "The Economic Benefits of Irrigation Districts under Prior Appropriation Doctrine: An Econometric Analysis of Agricultural Land‐Allocation Decisions," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 66(3), pages 441-467, September.
    3. Hanemann, Michael, 2014. "Property rights and sustainable irrigation—A developed world perspective," Agricultural Water Management, Elsevier, vol. 145(C), pages 5-22.
    4. Ji, Xinde & Cobourn, Kelly M., 2017. "Water Availability, Land Allocation, and the Role of Irrigation Districts under Prior Appropriation Doctrine," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258377, Agricultural and Applied Economics Association.
    5. Easter, K. William & Feder, Gershon, 1996. "Water Institutions And Economic Incentives To Ameliorate Market And Government Failures," Staff Papers 14217, University of Minnesota, Department of Applied Economics.

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