Efforts around the globe need legal and policy clarification

No abstract

The Australian water economy is entering a mature phase characterised by inelastic supply of 'new' water and the need for expensive rehabilitation of aging projects. Thus, the policy focus will turn increasingly toward ways of restraining water demand and reallocating existing supplies. A prima facie case is made that the efficiency loss from current water pricing and allocation policy is significant. After considering the relevant welfare economics theory, the theory of administered prices and marketable property rights and some American proposals for reform, a system of transferable water entitlements is proposed and developed.

No abstract

No abstract

No abstract

No abstract

A conceptual model is developed which provides insight into how information affects willingness to pay for environmental commodities. A refutable hypothesis of the effects of a specific information type on the magnitude of willingness to pay for an environmental commodity is developed. This hypothesis is tested using a contingent valuation method experiment. Results indicate that information affects willingness to pay in a theoretically plausible manner. The results support the contention that information is important for accurate environmental commodity consumer valuations.