An endogenous growth model for the evolution of water rights systems
构建了一个模型，解释水资源管理从公共地体系向可交易许可产权体系转变的路径，并说明外部性严重到一定程度时，更复杂的水权管理框架带来的交易成本增加是合理的。
Abstract This article presents a model to help explain the transition path from one water management system to another, typically a commons framework to one of tradable permit‐based property rights. Furthermore, drawing from transaction cost literature, the model demonstrates how this takes place when externalities (the strain on water resources) become severe enough to warrant the increased transaction costs inherent with more complex water rights management frameworks.