The Potential for Water Market Efficiency When Instream Flows Have Value
用优化方法分析在兼顾取水和河流内用水时，如何通过改进市场操作实现水资源的高效配置，对研究水政策的经济学者有参考价值。
Abstract Most of the effort being expended to revise western water policy concerns the maintenance of instream waters to the exclusion of traditional diversionary interests. Absent from the economics literature is a theoretical treatment addressing the interface between diversionary and instream water uses. At issue is the potential for refining market operations to accomplish efficient allocation in the presence of both diversionary and instream uses. Optimization methods are employed to examine this issue in a highly generalized framework. If a specific structure is adopted, markets and other incentive‐based policies are demonstrated to be capable of efficient water allocation.