How does water marketing work?

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PERC enviropreneur alum Chris Corbin is featured at New West today for his water market consulting work with Lotic:

The company takes an approach to water different from engineering or legal consultants, traditionally the ones involved in these types of conversations, Corbin said. Lotic’s role is to look at water as an asset, just as one might look at a piece of land. Water rights are property rights, meaning anyone who owns a right is allowed to sell it to the highest bidder. But the market is informal and most people don’t really know what their water rights are worth, Corbin said.

The article goes on to describe how Lotic helps keep water in stream for fish and wildlife habitat through water markets. For more on Chris and how Lotic is "turning blue into green," see his essay in PERC Reports or this from PERCtv:

Shawn Regan is a research fellow at PERC and the managing editor of PERC Reports. He holds a M.S. in Applied Economics from Montana State University and degrees in economics and environmental science from Berry College. His work has appeared in the Wall Street Journal, Quartz, High Country News, Reason, Regulation, Grist, and Distinctly Montana. ...
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