Water Economist David Zetland demonstrates All-in-Auctions, a proposed mechanism for reallocating scarce water among owners. The idea is to move water to those who would value it the most, while ensuring that those who hold the water rights are compensated adequately.
The broader idea behind such an auction is to manage water resources within their current context of scarcity, as opposed to institutions/ mechanisms formulated in times when water was abundant.
More on All-in-Auctions can be found in this powerpoint, this academic paper, this public lecture, this webinar, and this recent book by Mr. Zetland.
Produced by: David Zetland