Law Commons^™

Scientific, Legal, And Ethical Foundations For Texas Water Law., Gabriel Eckstein, Amy Hardberger

Faculty Articles

Water law is the field of law concerned with the ownership, control, and use of water resources, both surface and subsurface. Although most closely related to property law, recent developments in other legal fields, especially in environmental law, have heavily influenced the interpretation, application, and development of water law. As a result, water law today encompasses a broad perspective and often takes into account individual and community rights, environmental issues, commerce and economics, and other societal and legal concerns. Significantly, modern water law is also an interdisciplinary practice. In light of the continuously expanding body of knowledge of the hydrologic …

Water Is A Girl’S Best Friend: Examining The Water Valuation Dilemma, Amy Hardberger

Faculty Articles

Water allocation is currently controlled by policy that assigns a property right and hopes to protect the resource and its users. Markets can help fill this void and increase efficiency by assigning an accurate value to the good and dictating how the water is transferred and used.

Unfortunately, current markets lack the ability to send an accurate price signal that reflects the true value of water, leading to unintended consequences that could rapidly deplete resources rather than protect them. For the market to be accurate in pricing water, all costs must be included, allowing consumers to make an informed decision. …