Review by Choice Review
This is the second edition of a highly useful textbook for upper-division undergraduates or masters-level students in public policy or economics. In the second edition, Griffin adds several useful sections, e.g., details on active water markets in Australia and California (written by experts in respective areas), block water pricing, and new appendixes including a very useful one on input-output analysis. It begins with basic economic concepts such as supply and demand and builds to more complicated models such as dynamic efficiency, while nicely merging these economic concepts with real world applications in water policy. This makes it accessible without sacrificing rigor or nuance. The context is that of the US (other than the section on Australia), not the developing world. The sections on risk, policy analysis, and dynamic efficiency are especially well written. The treatment is fairly quantitative; end-of-chapter exercises, accompanied with spreadsheets and programming code on the author's website, make this an ideal resource for pedagogical purposes. This book is the fruit of Griffin's highly prolific career in research and teaching water resource economics, and is a great resource for faculty and students of water economics and policy. Summing Up: Highly recommended. Upper-division undergraduates through faculty. --Anita M. Chaudhry, California State University
Copyright American Library Association, used with permission.
Review by Choice Review
