this is probably actually good generally having well-defined property rights over goods results in a superior allocation water in particular is frequently hamstrung by this problem https://t.co/XpoPqLwmkp
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does anyone know why CA doesn't buy back water rights from incumbent holders? seems like their marginal value must be quite low in many cases
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I assume it has to do with the reason that private owners of water don't buy and sell directly with one another hm Are water rights somehow codified as inalienable? That would be really dumb
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Replying to @eliasjmgarcia
just seems like the gains are so large you could pay off incumbents with the surplus from reform assume there is a reason why not :(
6:13 PM - 4 Nov 2019
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