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Discounting and policy options for sustainable management of the Murray-Darling River System

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  • Quiggin, John

Abstract

In many resource management problems, the starting point is one involving a large number of users with imprecisely defined rights and an aggregate rate of resource use that is environmentally unsustainable. One possible policy response is to make formal or informal contracts with users, under which users receive current benefits in return for a commitment to forgo usage rights in future. If users have high discount rates, this response may permit a substantial reduction in resource use over time at relatively low cost. In this paper, this issue is explored with specific reference to the Murray-Darling River System

Suggested Citation

  • Quiggin, John, 2004. "Discounting and policy options for sustainable management of the Murray-Darling River System," Risk and Sustainable Management Group Working Papers 149837, University of Queensland, School of Economics.
    • Handle: RePEc:ags:uqsers:149837
    DOI: 10.22004/ag.econ.149837
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    File URL: https://ageconsearch.umn.edu/record/149837/files/WPM04_1.pdf
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    Cited by:

    1. John Quiggin, 2005. "Risk and water management in the Murray-Darling Basin," Murray-Darling Program Working Papers WPM05_4, Risk and Sustainable Management Group, University of Queensland.

    More about this item

    Keywords

    Environmental Economics and Policy; Risk and Uncertainty;

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation

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