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;
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    • 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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    Barnard, Charles and John Jones, Farm Real Estate Values in the United States By Counties, 1850-1982, Washington DC: USDA, ERS, Government Printing Office, 1987.

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

    Burt, Ronald S. “A Note on Social Capital and Network Content,” Social Networks, 19: 355-73, 1997.

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