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Price elasticity of allocations water demand in the Goulburn-Murray irrigation district of Victoria, Australia

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dc.contributor.authorWheeler, S.A.
dc.contributor.authorBjornlund, H.
dc.contributor.authorShanahan, M.P.
dc.contributor.authorZuo, Z.A.
dc.date.issued2008
dc.description.abstract<jats:p>Bid prices for the demand and supply of water allocations between 2001 and 2007, and average monthly prices paid for water allocations from 1997 to 2007 in the Goulburn–Murray Irrigation District are analysed to estimate price elasticities. Based on bid prices, the price elasticity of demand for water allocations appears highly elastic, with elasticities strongly influenced by the season and drought. The price elasticity of supply for water allocations is also elastic, albeit less elastic than demand. Using actual prices paid, water demand is negatively related to price and is inelastic, and appears to be most influenced by demand the previous month, drought and seasonality factors.</jats:p>
dc.identifier.citationAustralian Journal of Agricultural and Resource Economics, 2008; 52(1):37-55
dc.identifier.doi10.1111/j.1467-8489.2008.00416.x
dc.identifier.issn1364-985X
dc.identifier.issn1467-8489
dc.identifier.orcidWheeler, S.A. [0000-0002-6073-3172]
dc.identifier.orcidShanahan, M.P. [0000-0002-0405-2989]
dc.identifier.orcidZuo, Z.A. [0000-0003-0425-4633]
dc.identifier.urihttps://hdl.handle.net/11541.2/112682
dc.language.isoen
dc.publisherWiley-Blackwell Asia
dc.rightsCopyright 2008 The Authors
dc.source.urihttps://doi.org/10.1111/j.1467-8489.2008.00416.x
dc.subjectprice elasticity
dc.subjectwater allocation demand
dc.subjectwater allocations supply
dc.subjectwater markets
dc.titlePrice elasticity of allocations water demand in the Goulburn-Murray irrigation district of Victoria, Australia
dc.typeJournal article
pubs.publication-statusPublished
ror.mmsid9915911154401831

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