The research described here examined the question of why water resource managing institutions in the United States do or do not use probabilistic forecast information about seasonal and interannual climate variability in their planning. The study sought to describe water resource decision making processes in sufficient detail to enable us...
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...