Issue
Volume 33, Issue 3, December 2008
This section includes: Abstracts of Invited and Selected Papers and Organized Symposia, WAEA Annual Meetings, Big Sky, Montana, June 25-27, 2008; JARE Editors’ Report Presented at WAEA Annual Meeting, Big Sky, Montana, June 25, 2008; JARE Reviewers, October 1, 2007-December 1, 2008; WAEA 2007 Award Winners; Waea Past Presidents 1927-2008; Past Editors, Western Journal of Agricultural Economics, 1977-91, Journal of Agricultural and Resource Economics, 1992-2006
Emerging water markets in the western United States have slowly developed as usage patterns have changed over time. This article develops an econometric model for the Gila-San Francisco Basin. Results indicate the market price of water has risen in response to drought and market conditions. Analysis shows a statistically significant relationship between the price and quantity of water transferred, year the transaction occurred, location where the transaction occurred, new use of the water right, and whether the transaction occurred during a drought year. Using the Standard Precipitation Index, we find negotiated prices are higher during dry years.