Water trading in California is currently too slow and cumbersome. A sale of water can induce complex impacts on the environment and other people. Under the current system, arranging trades takes time and money, mainly in proving that other users and the environment will not be harmed. Because the market operates ineffectively, the price for water misrepresents its true value, and many valuable trades simply don’t happen.  Arranging such trades could be almost automated in what is known as a “smart market”…

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