Murphy, James; Dinar, Ariel; Howitt, Richard; Rassenti, … - In: Environmental & Resource Economics 17 (2000) 4, pp. 375-394
One of the problems with proposals for substantialinstitutional change in water systems is thatmodification and irreversibility make the processslow, cautious and costly to society. In this paper,we discuss the role that experimental economics canplay in evaluating proposed institutional changes...