Hansen, Kristiana; Kaplan, Jonathan; Kroll, Stephan - In: Environmental & Resource Economics 57 (2014) 1, pp. 59-80
Risk and reliability dominate water supply discussions in the arid western United States due to increasing demand and … finite, weather-dependent supply. Water markets have evolved in this region so agencies could meet this growing demand. In a … few instances, water agencies turned to contractual mechanisms such as options to manage supply. As demand continues to …