Examines whether psychological factors influence agricultural water leasing and selling decisions in Washington.
This research highlight summarizes findings from an experimental study examining whether nonpecuniary benefits of farming and psychological ownership influence water market participation among Washington state water right holders. Using an incentive-compatible online field experiment, surface water right holders from the Methow, Okanogan, Walla Walla, and Yakima basins were assigned hypothetical leasing and selling scenarios. The study tested whether priming participants to think about their own land and water rights, or assigning them as owner-operators versus owner-nonoperators, affected willingness to lease or sell water rights. Results showed no statistically significant impacts of nonpecuniary benefits of farming or psychological ownership on hypothetical leasing or selling decisions. While leasing participation exceeded selling participation, psychological factors did not meaningfully alter offer prices or participation decisions. The study provides foundational insights for future research on behavioral influences in water markets.
This work was supported by the USDA National Institute of Food and Agriculture, project #1016467.
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Authors
Deol, S.
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Suggested Citation
Deol, S., Yoder, J., Cook, J. 2024. Do “Nonpecuniary Benefits of Farming” or “Psychological Ownership” Affect Water Markets? Technology for Trade Research Highlight. Washington State University.
Year Published
2024
Area of Focus
Water Resources & Policy
Topics
Production Systems and Water Resources
