Water Law, Water Transfers, and Economic Efficiency: The Colorado River
@article{Burness1980WaterLW,
title={Water Law, Water Transfers, and Economic Efficiency: The Colorado River},
author={H. S. Burness and J. Quirk},
journal={The Journal of Law and Economics},
year={1980},
volume={23},
pages={111 - 134}
}The Colorado River illustrates that inefficient water allocation in the form of restricted transfer rights can give a false impression of water shortages. Transfer obstructions at the Federal, interstate, and intrastate levels include the prior-appropriation doctrine and return-flow externalities. Water allocation can be made more efficient by introducing competitive markets and reducing the amount allotted to agriculture. This would provide incentives to improve irrigation practices and free… CONTINUE READING