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Global Issues in Water Policy

Smart Markets for Water Resources

A Manual for Implementation

Authors: Raffensperger, John F, Milke, Mark

  • Describes a specific and unique approach to water management - a “smart market” approach
  • Explains how to implement smart markets for water, without polemic, but with technical detail and supporting theory
  • Presents introductory as well as advanced content to serve readers with diverse levels of knowledge
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eBook 118,99 €
price for Spain (gross)
  • ISBN 978-3-319-55008-4
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 145,59 €
price for Spain (gross)
  • ISBN 978-3-319-55007-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
About this book

Why is trade in wholesale water so rare, when markets can actively trade bread, tractors, and electricity? This book shows that water markets fail because of high transaction costs, resulting in inefficient allocations and unpredictable environmental effects. To overcome these obstacles, this book proposes a trading mechanism called a smart market. A smart market is an auction cleared with optimization. A smart market can reduce the transaction costs of water trading, while improving the environmental outcomes. The authors show why a smart market for water is needed, how it would work, and how to implement it. 

The smart market described here uses a hydrology simulation of the water resource, user bids via the internet, and mathematical optimization, to maximize the economic value of water while meeting all environmental constraints. 

The book provides the background to understand the smart market for water, and the detail to help the reader start working on its application. The book explores topics such as:

  • Why water should be more expensive near sensitive environmental locations,
  • Ways to set initial allocations of water rights,
  • The role of regulatory oversight,
  • The prerequisites of a water market, and
  • How to counter objections to water markets. 

The culmination of a decade of investigation, this book combines explanation, examples, and detail to inform policymakers, large water users, environmental organizations, researchers, and a thirsty public.

Table of contents (14 chapters)

  • Water Allocation: The Joint Problem of Interaction and Transaction Cost

    Raffensperger, John F. (et al.)

    Pages 1-17

    Preview Buy Chapter 30,19 €
  • Water Markets: Theory and Practice

    Raffensperger, John F. (et al.)

    Pages 19-36

    Preview Buy Chapter 30,19 €
  • How Water Flows, How It Is Modeled, and How We Can Optimize It

    Raffensperger, John F. (et al.)

    Pages 37-61

    Preview Buy Chapter 30,19 €
  • Introduction to Smart Markets

    Raffensperger, John F. (et al.)

    Pages 63-76

    Preview Buy Chapter 30,19 €
  • Prerequisites for Implementation

    Raffensperger, John F. (et al.)

    Pages 77-94

    Preview Buy Chapter 30,19 €

Buy this book

eBook 118,99 €
price for Spain (gross)
  • ISBN 978-3-319-55008-4
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 145,59 €
price for Spain (gross)
  • ISBN 978-3-319-55007-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
Smart Markets for Water Resources
Book Subtitle
A Manual for Implementation
Authors
Series Title
Global Issues in Water Policy
Series Volume
12
Copyright
2017
Publisher
Springer International Publishing
Copyright Holder
The Editor(s) (if applicable) and The Author(s) 2018
eBook ISBN
978-3-319-55008-4
DOI
10.1007/978-3-319-55008-4
Hardcover ISBN
978-3-319-55007-7
Series ISSN
2211-0631
Edition Number
1
Number of Pages
XXXII, 313
Number of Illustrations and Tables
22 b/w illustrations, 22 illustrations in colour
Topics