Market power in California's water market
研究加州地表水市场中的市场势力，利用纳什-古诺模型推导市场势力程度的闭式解，并基于新数据集估计发现该薄市场中的市场势力有限。
Abstract We estimate market power in California's surface water market. Market power may distort the potential welfare gains from water marketing. We use a Nash‐Cournot model and derive a closed‐form solution for the extent of market power in a water market setting. We then use this solution to estimate market power in a newly assembled dataset on California's water economy. We show that, under the assumptions of the Nash‐Cournot model, market power in this thin market is limited.