Transaction Costs Emanating from Policy Flexibility in Water Markets

Lin Crase; Brian Edward Dollery; M Lockwood

Transaction Costs Emanating from Policy Flexibility in Water Markets

Lin Crase, Brian Edward Dollery, M Lockwood

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

This paper addresses these policy choices by using concepts drawn from New Institutional Economics. More specifically, we develop the notion of 'policy flexibility' as a transaction cost and analyse its impact on the permanent water market in New South Wales (NSW), the Australian State with the largest irrigation sector. Results drawn from a choice experiment reveal that 'policy flexibility' shifts the demand function for permanent entitlements to the left, thereby constraining the capacity of the NSW water market to generate surplus.

Original language	English
Title of host publication	Water Policy Reform: Lessons from Asia and Australia
Editors	Donna Brennan
Place of Publication	Canberra, Australia
Publisher	Australian Centre for International Agricultural Research (ACIAR)
Pages	31-47
ISBN (Print)	1863203303, 186320329X
Publication status	Published - 2002
Event	ACIAR Workshop 2001: Australian Centre for International Agricultural Research Water Policy Workshop - Bangkok, Thailand Duration: 8 Jun 2001 → 9 Jun 2001

Conference

Conference	ACIAR Workshop 2001: Australian Centre for International Agricultural Research Water Policy Workshop
City	Bangkok, Thailand
Period	8/06/01 → 9/06/01

Keywords

Public Economics- Public Choice

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https://hdl.handle.net/1959.11/10696

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@inproceedings{e53fd89e3ba04c679b1c9fb0d975238a,

title = "Transaction Costs Emanating from Policy Flexibility in Water Markets",

abstract = "This paper addresses these policy choices by using concepts drawn from New Institutional Economics. More specifically, we develop the notion of 'policy flexibility' as a transaction cost and analyse its impact on the permanent water market in New South Wales (NSW), the Australian State with the largest irrigation sector. Results drawn from a choice experiment reveal that 'policy flexibility' shifts the demand function for permanent entitlements to the left, thereby constraining the capacity of the NSW water market to generate surplus.",

keywords = "Public Economics- Public Choice",

author = "Lin Crase and Dollery, \{Brian Edward\} and M Lockwood",

year = "2002",

language = "English",

isbn = "1863203303",

pages = "31--47",

editor = "Donna Brennan",

booktitle = "Water Policy Reform: Lessons from Asia and Australia",

publisher = "Australian Centre for International Agricultural Research (ACIAR)",

note = "ACIAR Workshop 2001: Australian Centre for International Agricultural Research Water Policy Workshop ; Conference date: 08-06-2001 Through 09-06-2001",

}

Crase, L, Dollery, BE & Lockwood, M 2002, Transaction Costs Emanating from Policy Flexibility in Water Markets. in D Brennan (ed.), Water Policy Reform: Lessons from Asia and Australia. Australian Centre for International Agricultural Research (ACIAR), Canberra, Australia, pp. 31-47, ACIAR Workshop 2001: Australian Centre for International Agricultural Research Water Policy Workshop, Bangkok, Thailand, 8/06/01. <https://hdl.handle.net/1959.11/10696>

Transaction Costs Emanating from Policy Flexibility in Water Markets. / Crase, Lin; Dollery, Brian Edward; Lockwood, M.
Water Policy Reform: Lessons from Asia and Australia. ed. / Donna Brennan. Canberra, Australia: Australian Centre for International Agricultural Research (ACIAR), 2002. p. 31-47.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Transaction Costs Emanating from Policy Flexibility in Water Markets

AU - Crase, Lin

AU - Dollery, Brian Edward

AU - Lockwood, M

PY - 2002

Y1 - 2002

N2 - This paper addresses these policy choices by using concepts drawn from New Institutional Economics. More specifically, we develop the notion of 'policy flexibility' as a transaction cost and analyse its impact on the permanent water market in New South Wales (NSW), the Australian State with the largest irrigation sector. Results drawn from a choice experiment reveal that 'policy flexibility' shifts the demand function for permanent entitlements to the left, thereby constraining the capacity of the NSW water market to generate surplus.

AB - This paper addresses these policy choices by using concepts drawn from New Institutional Economics. More specifically, we develop the notion of 'policy flexibility' as a transaction cost and analyse its impact on the permanent water market in New South Wales (NSW), the Australian State with the largest irrigation sector. Results drawn from a choice experiment reveal that 'policy flexibility' shifts the demand function for permanent entitlements to the left, thereby constraining the capacity of the NSW water market to generate surplus.

KW - Public Economics- Public Choice

UR - http://aciar.gov.au/publication/PR106

M3 - Conference contribution

SN - 1863203303

SN - 186320329X

SP - 31

EP - 47

BT - Water Policy Reform: Lessons from Asia and Australia

A2 - Brennan, Donna

PB - Australian Centre for International Agricultural Research (ACIAR)

CY - Canberra, Australia

T2 - ACIAR Workshop 2001: Australian Centre for International Agricultural Research Water Policy Workshop

Y2 - 8 June 2001 through 9 June 2001

ER -

Transaction Costs Emanating from Policy Flexibility in Water Markets

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