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- Title
Market power in California's water market.
- Authors
Tomori, Françeska; Ansink, Erik; Houba, Harold; Hagerty, Nick; Bos, Charles
- Abstract
We estimate market power in California's surface water market. Market power may distort the potential welfare gains from water marketing. We use a Nash‐Cournot model and derive a closed‐form solution for the extent of market power in a water market setting. We then use this solution to estimate market power in a newly assembled dataset on California's water economy. We show that, under the assumptions of the Nash‐Cournot model, market power in this thin market is limited.
- Subjects
CALIFORNIA; ELECTRICITY markets; MARKET power; WATER power
- Publication
American Journal of Agricultural Economics, 2024, Vol 106, Issue 3, p1274
- ISSN
0002-9092
- Publication type
Article
- DOI
10.1111/ajae.12434