Water property rights in rivers with large dams

Neal Hughes
This thesis is concerned with the allocation of water in regulated rivers: rivers controlled by large dams. Water property right reforms undertaken in Australia and elsewhere have decentralised water allocation: both spatial (via market trade) and inter-temporal (via storage rights). While these reforms have proven successful, externalities and transaction costs always persist. This thesis asks: what is the preferred system of water rights - in terms of allocative efficiency - given that all proposals are...
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