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Using water markets to improve environmental quality: Two innovative programs in Nevada

Author

Listed:
  • Sabrina Lovell

    (EPA - Office of Policy Planning and Evaluation - U.S. Environmental Protection Agency)

  • Katrin Millock

    (CIRED - centre international de recherche sur l'environnement et le développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique)

  • David Sunding

    (ARE - Department of Agricultural and Resource Economics [Berkeley] - UC Berkeley - University of California [Berkeley] - UC - University of California)

Abstract

Economists have long advocated the use of market mechanisms as a means to improve environmental quality at minimum cost. Voluntary water purchase programs are an example of such a policy. This paper examines the structure and performance of two water right purchase programs operating in Nevada: the Truckee River Water Quality Agreement and the Lahontan Valley purchase program administered by the U.S. Fish and Wildlife Service, the State of Nevada and the Nature Conservancy. Statistical analysis of the latter program indicates that it is performing efficiently. Notably, personal factors prompt water sales, and the least productive rights (e.g., those appurtenant to poor soils) are sold to the government. Concluding comments offer suggestions about ways to improve program performance, including allowing the sale of fractional water rights.

Suggested Citation

  • Sabrina Lovell & Katrin Millock & David Sunding, 2000. "Using water markets to improve environmental quality: Two innovative programs in Nevada," Post-Print hal-00107259, HAL.
    • Handle: RePEc:hal:journl:hal-00107259
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    Cited by:

    1. Crase, Lin & Dollery, Brian & Lockwood, Michael, 2001. "Towards an Understanding of Static Transaction Costs in the NSW Permanent Water Market: An Application of Choice Modelling," 2001 Conference (45th), January 23-25, 2001, Adelaide, Australia 125588, Australian Agricultural and Resource Economics Society.

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