The model reflects the potential gains to both types of water users from bargaining over a sustained reduction in groundwater pumping to increase surface water flows. This article studies this type of agreement by developing a simple, dynamic model of cooperative bargaining between surface and groundwater users. where surface and groundwater resources are hydraulically connected. Recent negotiations between surface water and groundwater users in Idaho highlight a potential mechanism to resolve costly conflict that has arisen in many areas of the western U.S. Furthermore, we believe that this paper opens a new path in this particular research field and should allow better analysis of the performance of water markets. Results validate the theoretical prediction and show the importance of distance and institutional factors in the decision to trade, with an emphasis on the extensive margin of water trade. We classically approximate transaction costs with distances and institutional factors. Then we test the theoretical predictions using water transfer data within California at the level of water districts over a 17-year period. The model distinguishes a variable and a fixed cost of trade, which allows us to disentangle the intensive and the extensive margin of water trading. We first develop a theoretical model to assess the micro-foundation of such an instrument in a water market context. In the present paper we intend to fill this gap using a tool from recent and well established international trade literature: the gravity equation. But despite the fact that this type of cost appears to be key to a low level of water exchange, only few studies explicitly implement such a cost in their analyses. It is relatively well accepted that transactions costs weigh upon water markets and deter some transfers. The beginning and ending times of sessions is shown below, with the exception being on the last day of the meeting when the last time slot will run from 1:00 pm to 3:00 pm. Of Sessions for 2016 in San Francisco, California Changes and corrections should be sent to sessions will be equipped with a projector and screen for your This was unavoidable, and in such cases a co-author will have to present the paper. We realize that there are some conflicts with participants. Not adding someone who is already scheduled at the same time. Before making additions, please do a search to make sure you are Please review your session(s) and let us know if you see anything that isĪmiss. NOTE: Everyone must register for the meeting, including speakers. PRELIMINARY PROGRAM OF THE ALLIED SOCIAL SCIENCE ASSOCIATIONS
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