Agricultural water markets and economic risk [electronic resource] : An application in the Guadalquivir Valley (Spain) / Javier Calatrava Leyva.

Calatrava Leyva, Javier.
Bib ID
vtls001064570
出版項
Ann Arbor, Mich. : ProQuest Information and learning
稽核項
236 p.
電子版
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$a Calatrava Leyva, Javier.
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$a Agricultural water markets and economic risk $h [electronic resource] : $b An application in the Guadalquivir Valley (Spain) / $c Javier Calatrava Leyva.
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$a Ann Arbor, Mich. : $b ProQuest Information and learning
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$a 236 p.
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$a Source: Dissertation Abstracts International, Volume: 63-11, Section: A, page: 4028.
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$a Director:  Alberto Garrido Colmenero.
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$a Thesis (Dr.)--Universidad Politecnica de Cartagena (Spain), 2002.
520
$a Water availability in semiarid regions exhibits patterns of extreme variability. Even in intensively controlled basins, some users are subject to low levels of water reliability, being vulnerable to scarcity periods. To reduce their risk exposure flexible instruments are required. Recent changes in the Spanish water Law have given an initial impulse to leases of water use rights, which, properly designed and monitored, provide flexibility to water management, increasing economic efficiency and mitigating the adverse economic effects of scarcity.
520
$a This doctoral dissertation looks at the risks and uncertainty dimensions of water markets, which have not been paid much attention in the literature. A first objective is to analyse the role that uncertainty plays in market participants' decisions and its impact on gains-from-trade. A second objective is to look at the effect that the participation in the market has on the risk caused by water availability variations.
520
$a Irrigators' behaviour and water exchanges are simulated using stochastic and spatial equilibrium programming models, combined with Bootstrapping techniques. Hydrological risk is characterised by the variation of the water allowances served for irrigation. The application is performed on eleven farms belonging to an irrigation district of the Guadalquivir Valley (South Spain).
520
$a With regard to the first objective, it is shown that the possibility of trading water reduces the adverse effect that uncertain water availability has on farmers' profit. From a methodological standpoint, results suggest that the agricultural water market benefits estimates found in the literature may be undervalued, With regard to the second objective, it is shown that the probability distribution of each farmers' profit when exchanges are authorised exhibit second-order stochastic dominance over that under the no market case. Therefore, economic risk is unambiguously reduced. Results suggests that if the market would be extended to users with different hydrological risk exposure, the occurrence of extremely low benefits events would become more unlikely.
520
$a In sum, it is shown, both theoretically and empirically, that exchanging water in annual spot markets allows for the reduction of farmers' economic vulnerability caused by the variability and uncertainty of water supply, both within and across irrigation seasons.
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$a Economics, General.
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$a Economics, Agricultural.
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$a Universidad Politecnica de Cartagena (Spain).
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摘要
Water availability in semiarid regions exhibits patterns of extreme variability. Even in intensively controlled basins, some users are subject to low levels of water reliability, being vulnerable to scarcity periods. To reduce their risk exposure flexible instruments are required. Recent changes in the Spanish water Law have given an initial impulse to leases of water use rights, which, properly designed and monitored, provide flexibility to water management, increasing economic efficiency and mitigating the adverse economic effects of scarcity.
This doctoral dissertation looks at the risks and uncertainty dimensions of water markets, which have not been paid much attention in the literature. A first objective is to analyse the role that uncertainty plays in market participants' decisions and its impact on gains-from-trade. A second objective is to look at the effect that the participation in the market has on the risk caused by water availability variations.
Irrigators' behaviour and water exchanges are simulated using stochastic and spatial equilibrium programming models, combined with Bootstrapping techniques. Hydrological risk is characterised by the variation of the water allowances served for irrigation. The application is performed on eleven farms belonging to an irrigation district of the Guadalquivir Valley (South Spain).
With regard to the first objective, it is shown that the possibility of trading water reduces the adverse effect that uncertain water availability has on farmers' profit. From a methodological standpoint, results suggest that the agricultural water market benefits estimates found in the literature may be undervalued, With regard to the second objective, it is shown that the probability distribution of each farmers' profit when exchanges are authorised exhibit second-order stochastic dominance over that under the no market case. Therefore, economic risk is unambiguously reduced. Results suggests that if the market would be extended to users with different hydrological risk exposure, the occurrence of extremely low benefits events would become more unlikely.
In sum, it is shown, both theoretically and empirically, that exchanging water in annual spot markets allows for the reduction of farmers' economic vulnerability caused by the variability and uncertainty of water supply, both within and across irrigation seasons.
附註
Source: Dissertation Abstracts International, Volume: 63-11, Section: A, page: 4028.
Director: Alberto Garrido Colmenero.
Thesis (Dr.)--Universidad Politecnica de Cartagena (Spain), 2002.
合著者
ISBN/ISSN
9780493896588