{"title":"The Economic Analysis of the Common Pool Method through the HARA Utility Functions","authors":"Mu Lin, Di Zhang, Ben Chen, Hang Zheng","doi":"arxiv-2408.05194","DOIUrl":null,"url":null,"abstract":"Water market is a contemporary marketplace for water trading and is deemed to\none of the most efficient instruments to improve the social welfare. In modern\nwater markets, the two widely used trading systems are an improved pair-wise\ntrading, and a 'smart market' or common pool method. In comparison with the\neconomic model, this paper constructs a conceptual mathematic model through the\nHARA utility functions. Mirroring the concepts such as Nash Equilibrium, Pareto\noptimal and stable matching in economy, three significant propositions are\nacquired which illustrate the advantages of the common pool method compared\nwith the improved pair-wise trading.","PeriodicalId":501273,"journal":{"name":"arXiv - ECON - General Economics","volume":"136 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2024-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"arXiv - ECON - General Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/arxiv-2408.05194","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
Water market is a contemporary marketplace for water trading and is deemed to
one of the most efficient instruments to improve the social welfare. In modern
water markets, the two widely used trading systems are an improved pair-wise
trading, and a 'smart market' or common pool method. In comparison with the
economic model, this paper constructs a conceptual mathematic model through the
HARA utility functions. Mirroring the concepts such as Nash Equilibrium, Pareto
optimal and stable matching in economy, three significant propositions are
acquired which illustrate the advantages of the common pool method compared
with the improved pair-wise trading.
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