David Zetland, Using Auctions to Share Scarce Water, The Solutions Journal, Volume 3, Issue 2, March 2012, Pages 34-37 (https://www.thesolutionsjournal.com/article/using-auctions-to-share-scarce-water/) Abstract: In the summer of 2009, we were treated to a bicoastal spectacle of conflicts over water in the western and southeastern United States. Farmers in California were on television, complaining about a “congressionally induced” drought; the mayor of Atlanta was arguing that Florida’s wetlands were taking water his citizens needed to survive. In 2011, the water shortages shifted to the Midwest and northern China. And these global water crises are here to stay if we continue to ignore the signs of increasing water scarcity and continue to manage water as if it is as abundant now as it was in the past. One of the bumper stickers above my desk says “Nature makes a drought; man makes a shortage.” We may not be able to do anything about drought, but we can do something to manage the resulting scarcity. Economics—the so-called science of scarcity—has a number of tools that can prevent scarcity from turning into shortage. The challenge is to find the right way to put them to … Topics: Conservation; Property Rights