Global Outlook for Water Scarcity, Food Security, and Hydropower / Mark W. Rosegrant -- Water Scarcity and the Demand for Water Markets / Richard Howitt -- Ordering Extraction from Multiple Aquifers / James A. Roumasset and Christopher A. Wada -- Integrating Demand-Management with Development of Supply-Side Substitutes / James A. Roumasset and Christopher A. Wada -- Optimal Conjunctive Water Use over Space and Time / Sittidaj Pongkijvorasin and James A. Roumasset -- Strategic Behavior and Regulation over Time and Space / C.-Y. Cynthia Lin and Lisa Pfeiffer -- Water Allocation under Distribution Losses : A Perspective / Ujayant Chakravorty and Yazhen Gong -- The Good, Bad, and Ugly of Watershed Management / Kimberly Burnett, James A. Roumasset and Christopher A. Wada -- Externalities and Water Quality / Renan Goetz and Àngels Xabadia -- Groundwater Use and Irrigated Agriculture in California : Dynamics, Uncertainty, and Conjunctive Use / Keith Knapp and Kurt Schwabe -- Institutions for Managing Ground and Surface Water and the Theory of the Second-Best / Karl Jandoc, Richard Howitt, James A. Roumasset and Christopher A. Wada -- Towards an Economics of Irrigation Networks / Karl Jandoc, Ruben Juarez and James A. Roumasset -- Real-Time Information and Consumption : What Can Water Demand Programs Learn from Electricity Demand Programs? / John Lynham and Nori Tarui -- Water Scarcity and Water Institutions / Ariel Dinar and Yacov Tsur -- Managing Climate Risks through Water Trading / Bonnie Colby, George Frisvold and Matthew Mealy -- A California Postcard : Lessons for a Maturing Water Market / Ellen Hanak -- Water Trading Opportunities and Challenges in Europe / Gonzalo Delacámara, Carlos Mario Gómez and Josefina Maestu -- Water Trading in Australia : Understanding the Role of Policy and Serendipity / Lin Crase, Sue O'Keefe, Sarah Wheeler and Yukio Kinoshita -- Tradeoffs : Fish, Farmers, and Energy on the Columbia / Ray Huffaker -- Water Sales, Pecuniary Externalities and Local Development : Chinatown Revisited / Gary D. Libecap -- Agricultural Water Management at the Village Level in Northern China / Qiuqiong Huang, Jinxia Wang, Siwa Msangi, Scott Rozelle and Jikun Huang -- Implementing the European Water Framework Directive in Greece : An Integrated Socio-Economic Approach and Remaining Obstacles / Phoebe Koundouri and Osiel González Dávila -- Water Conservation and Trading : Policy Challenges in Alberta Canada / Henning Bjornlund and K.K. Klein.