Abstract

http://ssrn.com/abstract=1922446
 
 

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Price Determination and Efficiency in the Market for South Platte Basin Ditch Company Shares


Matthew T. Payne


WestWater Research

Mark Griffin Smith


Colorado College - Department of Economics and Business

Clay Landry


affiliation not provided to SSRN

September 5, 2011


Abstract:     
Water scarcity presents an obstacle to economic development in the western United States. Water right markets promote efficient allocation, helping states to derive the highest possible economic benefit from available resources, and allowing western water supplies to support new development and population growth. However, uncertainty surrounding water right market values threatens the ability of water markets to efficiently allocate water. To address this problem, we employ econometric analysis techniques to estimate the values market participants place on shares of ditch company water rights in Colorado’s South Platte basin. Our analysis demonstrates that ditch company share buyers value proximity, reliability, and flexibility.

Number of Pages in PDF File: 39

Keywords: water markets, water rights, water prices, Colorado

JEL Classification: Q23

working papers series


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Date posted: September 5, 2011  

Suggested Citation

Payne, Matthew T. and Smith, Mark Griffin and Landry, Clay, Price Determination and Efficiency in the Market for South Platte Basin Ditch Company Shares (September 5, 2011). Available at SSRN: http://ssrn.com/abstract=1922446 or http://dx.doi.org/10.2139/ssrn.1922446

Contact Information

Matthew T. Payne
WestWater Research ( email )
1104 Main Street
Suite 610
Vancouver, WA 98660
United States
Mark Griffin Smith (Contact Author)
Colorado College - Department of Economics and Business ( email )
Colorado Springs, CO 80903
United States
Clay Landry
affiliation not provided to SSRN ( email )
Feedback to SSRN


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Downloads: 34
References:  66
Citations:  1

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