Rivers of Gold: Designing Markets To Allocate Water In California

The movement to implement market-based approaches to allocating water is gaining ground across California and in other western states. Proponents argue that markets offer an efficient and cost-effective means of promoting conservation -- those who need water would pay for it on the open market, while others would conserve rather than pay increased prices.

Rivers of Gold takes a new look at California's water-reallocation challenge. The author explains the concept of water markets and the e...