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Water markets in Australia: an experimental analysis of alternative market mechanisms

Citation

Tisdell, JG, Water markets in Australia: an experimental analysis of alternative market mechanisms, The Australian Journal of Agricultural and Resource Economics, 55, (4) pp. 500-517. ISSN 1467-8489 (2011) [Refereed Article]


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The definitive published version is available online at: http://www3.interscience.wiley.com/

DOI: doi:10.1111/j.1467-8489.2011.00550.x

Abstract

Formal water markets in Australia began as uniform price open call markets. As water markets in Australia continue to expand and mature, water managers are introducing double auction water markets, believing that such markets will produce more efficient outcomes. It is therefore timely and policy relevant to explore the relative merits of the two auction mechanisms in context. To date, experimental comparisons of these auction methanisms have been based on balanced, single unit designs with defined buyers and sellers. However, many resource markets involve trade in multiple unit, often thin, double auction markets. This paper questions whether a multiple unit double auction performs as well as the more traditional open multiple unit call auction in a series of thin water market experiments.

Item Details

Item Type:Refereed Article
Research Division:Economics
Research Group:Applied Economics
Research Field:Agricultural Economics
Objective Division:Economic Framework
Objective Group:Other Economic Framework
Objective Field:Economic Framework not elsewhere classified
Author:Tisdell, JG (Professor John Tisdell)
ID Code:73148
Year Published:2011
Web of Science® Times Cited:7
Deposited By:Economics and Finance
Deposited On:2011-09-15
Last Modified:2014-12-20
Downloads:0

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