Water Market and Coordination Failures: The Case of the Limari Valley in Chile

activities administration affect agricultural allocation alternative analysis appear applied associations authority average behavior buyers canal Chapter Chile Code Cogoti compared considered context crop structure cubic meters decisions demand depending developed distribution drip irrigation drought economic efficiency especially estimated exit expected export grapes face farmers given gives Graph hectare higher important improve increasing individual input institutions investment irrigation land Limari Valley limitations market participation mean measurement observed operation organizations Paloma parameters period permanent crops Pesos Pisco possible present probability problems production profits receive Recoleta reduce regarding regulation requirement reservoir resource river rules sample savings season sellers severe simulation situation specific started survey Table threshold trade transaction costs users variable water endowment water market water price water rights water supply whereas whole