This textbook is written for first-year graduate students and senior level undergraduates in economics. . . Graduate students in geography, water resources, and environmental management should also be interested. The well done helpful diagrams and charts are those expected for a textbook in economics at this level. In every chapter many interesting real world examples illustrate the concept being discussed. Some chapters have easy to read case studies set off from the text. Every chapter has an excellent bibliography. I plan on keeping this excellent book as a shelf reference and would willingly adopt it for a class in Water Resource Economics. Donald E. Agthe, Journal of the American Water Resources Association This is a much-needed book, which introduces the interested reader to the economics of water resource allocation, and analyzes relevant policy issues derived from all over the world. To the best of my knowledge, this is the first book which is focused on communicating the basic economic concepts that govern water resources allocation. . . The lively writing style of W. Douglass Shaw, which is enriched with excellent examples and case studies from various countries, makes this book an obvious choice for a textbook in relevant courses. . . this excellent book should be a compulsory reading for all of us who work in the field of water resources management. Phoebe Koundouri, Ecological Economics A state-of-the-art and comprehensive review of water resource economics policy issues and research methods needed to address those issues. It can double as a text for classes in water economics as well as a source for researchers who need a state-of-the-art review of the literature. Frank A. Ward, New Mexico State University, US For years, I ve taught water economics and policy by piecing together readings from dozens of texts and articles. Now, I finally have one text that provides comprehensive coverage of water economics at a level both accessible to senior undergraduates while still sufficiently rigorous for graduate students. I cannot wait to use this text in my classes! Eric Schuck, Colorado State University, US W. Douglass Shaw s Water Resource Economics and Policy is a valuable and timely contribution. Those new to the subject of water resource economics will find a treatment that is both comprehensive and readable, suitable for undergraduate and selected graduate level classes. The book amply demonstrates the application of basic microeconomic principles to water issues and provides valuable in-depth discussion of water quality, and of urban, agricultural, environmental and recreational water use. The economics of risk and uncertainty are clearly presented in the context of drought, flood control and water supply and demand. These are key themes in this field that can be difficult to communicate to undergraduates. This text will be invaluable in teaching water resource economics. Bonnie Colby, University of Arizona, US Douglass Shaw s Water Resource Economics and Policy is a timely and useful offering, filling an important void in MS and post bac texts. The beginning chapters provide background in legal and economic theory considerations. Each is followed up in the book with specific regulatory and institutional examples as well as citations and explanations of empirical work in water resources economics. Topics in agricultural and residential water use, as well as reservoir impoundments and trans-boundary water issues, yield useful concepts for a wide range of students. The text serves as a very essential framework with which supplementary readings can be added. The organization of the book is sensible; it provides a means by which a greater body of materials may be arranged. The course I currently teach contains students from a diverse set of academic fields. The text materials are eminently accessible for all of these students. I highly recommend this to be an indispensable source book for water resource e