The Design of Robust Water Entitlement and Allocation Systems: Lessons, Observations and Recommendations from Australia
11:00 - 12:00
Mike Young is one of Australia’s leading water economists and has played a key role in the development of the water entitlement and allocation systems used in this country.
In Australia’s Murray Darling Basin both water entitlements and allocations are tradeable and trading is common practice. The result is a suite of institutional arrangements that have promoted investment and enabled the resolution of many environmental and water scarcity problems. The development of this system, however, has not been without its problems.
In this FEEM seminar, Prof Young will identify the mistakes that Australia has made and what this means for water management in Europe.