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|Title:||Transaction Costs Emanating from Policy Flexibility in Water Markets||Contributor(s):||Crase, Lin (author); Dollery, Brian Edward (author); Lockwood, M (author)||Publication Date:||2002||Handle Link:||https://hdl.handle.net/1959.11/10696||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.||Publication Type:||Conference Publication||Conference Name:||Australian Centre for International Agricultural Research Water Policy Workshop, Bangkok, Thailand, 8th - 9th June, 2001||Source of Publication:||Water Policy Reform: Lessons from Asia and Australia, p. 31-47||Publisher:||Australian Centre for International Agricultural Research (ACIAR)||Place of Publication:||Canberra, Australia||ISSN:||1038-6920||Field of Research (FOR):||140213 Public Economics- Public Choice||Peer Reviewed:||Yes||HERDC Category Description:||E1 Refereed Scholarly Conference Publication||Other Links:||http://aciar.gov.au/publication/PR106||Statistics to Oct 2018:||Visitors: 278
|Appears in Collections:||Conference Publication|
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