Water Resource Economics and Policy

Economic issues arise in almost every water policy context. Water is of most concern when scarce, but physical scarcity is often overcome as human beings move water from place to place, sometimes creating monumental structures. The roles that cost and economic value play in water resource allocation are implicit, but often poorly understood. This second edition clarifies the role of economics and offers material that can be applied to water resource allocation problems around the world. Topics covered include: groundwater, floods and droughts, in situ uses of water, and institutions and law. New to the book is an exploration of water issues outside the United States as well as a new application of behavioral and experimental economics to the topic.

A concise introduction to issues of water quality and quantity in both urban and agricultural settings, Water Resource Economics and Policy will be a valuable resource or text for students and researchers in the fields of agricultural economics, geography, law, and hydrology. Those involved in water resource agencies and private utilities will also find the book a useful reference.



Acclaim for the first edition:



'This textbook is written for first-year graduate students and senior level undergraduates in economics. ... Graduate students in geography, water resources, and environmental management should also be interested. The well-done helpful diagrams and charts are those expected for a textbook in economics at this level. In every chapter many interesting real-world examples illustrate the concept being discussed. Some chapters have easy-to-read case studies set off from the text. ... I plan on keeping this excellent book as a shelf reference and would willingly adopt it for a class in water resource economics.'

- Donald E. Agthe, Journal of the American Water Resources Association



'This is a much-needed book, which introduces the interested reader to the economics of water resource allocation, and analyzes relevant policy issues derived from all over the world. To the best of my knowledge, this is the first book which is focused on communicating the basic economic concepts that govern water resources allocation. ... The lively writing style of W. Douglass Shaw, which is enriched with excellent examples and case studies from various countries, makes this book an obvious choice for a textbook in relevant courses ... this excellent book should be a compulsory reading for all of us who work in the field of water resources management.'

- Phoebe Koundouri, Ecological Economics