Published November 1977. Facts and recommendations in this publication may no longer be valid. Please look for up-to-date information in the OSU Extension Catalog: http://extension.oregonstate.edu/catalog
In the last 20 years, a considerable volume of literature has emerged with respect to the efficacy of the market place in the allocation of water resources. Economists have been very willing to apply their tools of optimization in a comparative statics framework to indicate that any resource can be...