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Résumé :
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The paper focuses on water allocation problems and the performance of water markets in improving allocation. By examining specific case studies in Chile, one of the few countries that has encouraged markets for water, it demonstrates that water can no longer be treated as a free good and better ways must be found to improve its allocation and use. Efficient water markets are one means of improving water allocation, while at the same time providing a mechanism to directly compensate existing water users. In addition, as the market value of water becomes clear to water users, they will use it more efficiently.
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