The economic conception of water

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Water markets and freshwater ecosystem services: Policy reform and implementation in the Columbia and Murray-Darling Basins (2009, background): “The concept of watermarkets emerged alongside a set of expected limitationsknownas market failures, which stem from water's distinctive physical and social interconnectedness as amarketed commodity (Bauer, 2004;Hanemann, 2006; Meinzen-Dick, 2007).”
Environmental Regulation and Sustainable Competitiveness: Evaluating the Role of Firm-Level Green Investments in the Context of the Porter Hypothesis (2018, background): “Water is a public good while in situ, but can be considered a private good from a firm’s perspective (Hanemann, 2006).”
2006 Presidential Address Water Markets in the West: Prices, Trading, and Contractual Forms (2007, unknown): “Young and Haveman (1985) and Hanemann (2005) pointed to the simultaneous and sequential use of water, its mobility, its unobservability (groundwater), as well as the variability and thus uncertainty of the supply.”