Transaction Costs: Valuation Disputes, Bi-Lateral Monopoly Bargaining and Third-Party Effects in Water Rights Exchanges. The Owens Valley Transfer to Los Angeles

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Gary D. Libecap;
(2004)
  • Subject:
    • jel: jel:N5 | jel:Q2

Between 1905 and 1934 over 869 farmers in Owens Valley, California sold their land and associated water rights to Los Angeles, 250 miles to the southwest. This agriculture-to-urban water transfer increased Los Angeles' water supply by over 4 times, making the subsequent... View more
  • References (4)

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    Baugh, Ruth E., “Land Use Changes in the Bishop Area of Owens Valley,” Economic Geography 13 (1), 17-34, January 1937.

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