Recent developments in economics make it possible to design and create markets in sectors of the economy where they have previously been missing or inefficient. Although of interest from an economic efficiency perspective, market-based approaches to environmental management also reveal...

Irrigation can have a significant negative impact on the environment. Policies available to regulators to reduce the impact of irrigation include externality taxes and levies. In 2002 the Victorian Government introduced a system of salinity levies in the irrigation regions of Sunraysia, northern...