The value of scarce water
Subtitle: measuring the inefficiency of municipal regulations
By: Erin T. Mansur, Sheila M. Olmstead
Contributors: Olmstead, Sheila M.; National Bureau of Economic Research
Series: NBER working paper series -- working paper 13513; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 13513.
Publisher: National Bureau of Economic Research
Published: 2007
Place of publication: Cambridge, MA
Language: eng
Format: [electronic resource] :
Description: "Rather than allowing water prices to reflect scarcity rents during periods of drought-induced excess demand, policy makers have mandated command-and-control approaches, like the curtailment of certain uses, primarily outdoor watering.  Using unique panel data on residential end-uses of water, we examine the welfare implications of typical drought policies.  Using price variation across and within markets, we identify end-use specific price elasticities.  Our results suggest that current policies target water uses that households, themselves, are most willing to forgo.  Nevertheless, we find that use restrictions have costly welfare implications, primarily due to household heterogeneity in willingness-to-pay for scarce water"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 11/1/2007.

Includes bibliographical references.

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Mode of access: World Wide Web.