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The optimal allocation of water along a system of rivers: a continuous model with sequential bidding

Citation

Coram, A, The optimal allocation of water along a system of rivers: a continuous model with sequential bidding, The Australian Journal of Agricultural and Resource Economics, 50, (3) pp. 313-326. ISSN 1364-985X (2006) [Refereed Article]


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Copyright Statement

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

DOI: doi:10.1111/j.1467-8489.2006.00357.x

Abstract

This paper uses a control theory approach to analyse the collectively optimal rate of extraction along a river system and constructs a bidding mechanism that would produce the required prices at each point. It also analyses some characteristics of this mechanism. This approach brings some new perspective to existing work on externalities. It also helps bring to light some aspects of the system as a whole that may be less obvious in a more piecemeal analysis, including the fact that there may not be an optimal solution to the allocation problem. Although the bidding mechanism may be difficult to implement, it may be possible to design various forms of hybrid schemes that have practical value.

Item Details

Item Type:Refereed Article
Keywords:control theory mechanism design optimal allocation rights markets waters
Research Division:Indigenous Studies
Research Group:Other Indigenous studies
Research Field:Other Indigenous studies not elsewhere classified
Objective Division:Environmental Management
Objective Group:Other environmental management
Objective Field:Other environmental management not elsewhere classified
UTAS Author:Coram, A (Professor Alex Coram)
ID Code:43274
Year Published:2006
Web of Science® Times Cited:6
Deposited By:Government
Deposited On:2006-08-01
Last Modified:2010-05-13
Downloads:0

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