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In many countries, drought is the natural hazard that causes the greatest agronomic impacts. After recurrent droughts, farmers typically learn from experience and implement changes in management to reduce their future drought risks and impacts. This paper aims to understand how irrigated agriculture in a humid climate has been affected by past droughts and how different actors have adapted their activities and strategies over time to increase their resilience. After examining recent drought episodes from an agroclimatic perspective, information from an online survey was combined with evidence from semistructured interviews with farmers to assess: drought risk perceptions, impacts of past drought events, management strategies at different scales (regional to farm level) and responses to future risks. Interviews with the water regulatory agency were also conducted to explore their attitudes and decision-making processes during drought events. The results highlight how agricultural drought management strategies evolve over time, including how specific aspects have helped to reduce future drought risks. The importance of adopting a vertically integrated drought management approach in the farming sector coupled with a better understanding of past drought impacts and management options is shown to be crucial for improving decisionmaking during future drought events.

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a cranfield Water science Institute, cranfield university, uK; b raas Division, centro euro-mediterraneo sui cambiamenti climatici (cmcc), venice, Italy; c Department of economics, universidad de alcalá, alcalá de Henares, spain; d fondazione eni enrico mattei (feem), venice, Italy; e Water policy center, public policy Institute of california, san francisco, usa; f fundación observatorio del cambio climático, valencia, spain; g Institute for environmental studies (Ivm), vu university amsterdam ABSTRACT A growing number of countries are reforming their water allocation regimes through the use of economic instruments. This article analyzes the performance of economic instruments in water allocation reforms compared against their original design objectives in five European countries: England, France, Italy, Spain and the Netherlands. We identify the strengths of, barriers to and unintended consequences of economic instruments in the varying socio-economic, legal, institutional and biophysical context in each case study area, and use this evidence to draw out underlying common guidelines and recommendations. These lessons will help improve the effectiveness of future reforms while supporting more efficient water resources allocation.