| Summary/Abstract |
Everyone knows that water is necessary for life. That often makes people believe that water is beyond price. Furthermore, it is often said that “the next war will be about water.” This leads to the claiming of large amounts of‘ water and to dispute among countries. But this is the wrong way to think about water. The correct way is to think about water value rather than water quantity.
In this paper, I show how the settlement of water disputes can provide benefits to all disputing parties. But reaching such conclusions first requires an understanding of the economics of water.
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