Estimating the Value of Water Use Permits: A Hedonic Approach Applied to Farmland in the Southeastern United States
利用1999年佐治亚州弗林特河流域暂停发放灌溉许可证的政策变化，通过享乐定价模型估算美国东南部灌溉权的价值，填补了该地区因产权差异和市场缺失导致的信息空白。
<i>Agricultural irrigation permits in the Flint River Basin in Georgia had been routinely granted until a moratorium was placed on permit issuance in 1999. This research exploits this policy change within a hedonic-pricing framework to estimate the value of irrigation rights in the southeastern United States. While the value of irrigation rights has been studied extensively in the western United States, differences in property rights and legal regimes, as well as a lack of established water-rights markets in the eastern United States, leave us with little information regarding the value of irrigation rights in this setting.</i>