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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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Copyright Statement
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: | Other economic framework not elsewhere classified |
| UTAS Author: | Tisdell, JG (Professor John Tisdell) |
| ID Code: | 73148 |
| Year Published: | 2011 |
| Web of Science® Times Cited: | 15 |
| Deposited By: | Economics and Finance |
| Deposited On: | 2011-09-15 |
| Last Modified: | 2017-11-27 |
| Downloads: | 0 |
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