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Fundamentals Determining Prices and Activities in the Market for Water Allocations

机译:确定水分配市场价格和活动的基本原理

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This paper analyses prices paid and volumes traded in the market for water allocations to provide insight into which factors drive activities in that market. While factors such as commodity prices, supply and demand as well as macroeconomic indicators have had an influence on price and volume traded, the main determinants during the study period have been the level of seasonal allocation, rainfall and evaporation. During this period of relative water scarcity, irrigators with water-dependent capital assets such as dairy and horticultural farmers have been willing to pay increasing water prices relative to commodity prices in order to protect these long-term investments and stay in business.
机译:本文分析了市场上为配水而支付的价格和交易量,以深入了解哪些因素推动了该市场的活动。虽然商品价格,供求以及宏观经济指标等因素对价格和交易量都有影响,但研究期间的主要决定因素是季节性分配水平,降雨和蒸发。在这一相对缺水的时期,拥有水相关资本资产的灌溉者(如奶牛场和园艺农户)为了保护这些长期投资并持续经营,愿意为商品价格支付相对于商品价格而言越来越高的水价。

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