An outstanding textbook written by the one of the world’s top water economists. For anyone, student or practitioner, who needs to know the fundamentals and also the frontier knowledge necessary to tackle the local, regional, and national challenges of water use and supply, this is an absolute must read.

Quentin Grafton Professor and Chairholder UNESCO Chair in Water Economics and Transboundary Water Governance, The Australian National University

In an era of growing water scarcity and facing a future of increasingly rancorous conflicts over water resources, there is a compelling need for clear guidance on matters related to water supply, demand, allocation, and investment. This text provides this guidance and has many positive features: comprehensive in coverage, accessible for noneconomists, clearly written, and highly relevant to real-world water issues. I strongly recommend it to all water professionals seeking to gain insights into the economic dimensions of water issues.

Steven Renzetti Professor, Department of Economics, Brock University

The first edition of Griffin’s book became an instant classic, useful for teachers and students of economics, and equally accessible to those with technical training outside of economics who focus on the critically important issue of water resource management. This superb update, with its expanded treatment of risk, water pricing, and marketing, ensures that Griffin’s book will remain the ‘best of the best’ in this rapidly growing field.

Sheila M. Olmstead Associate Professor of Public Affairs, The University of Texas at Austin