Water Markets, Licenses, and Conservation: Some Implications
研究了水市场与许可证的互动，发现当水权不可交易时，现货市场可能损害部分用户并增加保护成本，自筹资金保护计划还会导致水费从新用户向老用户转移。
While water markets have long been advocated as a tool for both enhancing water use efficiency and enabling conservation purchases, their interaction with water rights and licenses has been little studied. It is shown that when water rights are not tradable, using spot markets to secure conservation needs may harm some water users. Ironically, while a spot market enhances the efficiency of water use, it may also increase the cost of conservation purchases. Further, a self-funding conservation program, where volumetric license carrying charges pay for conservation purchases, creates a transfer from junior water users to senior water users. <i></i>