Water Economics in the Anthropocene

Water is often treated as a consumer good or a producer good; rarely is it seen as a scarce asset or natural capital. Significant differences emerge when water is treated as a reproducible commodity versus a nonrenewable asset, and this book will integrate both. Physical scarcity is compounded by economic scarcity when water is under- or mispriced; the authors construct real and shadow prices to reflect physical scarcity and environmental opportunity costs, and supply expansion is squared agains