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This paper presents an analysis of the effects of different institutional arrangements and economic environments on water markets. Characteristics of water rights transfers in the South Platte Basin of Colorado and transfers of shares of the Northern Colorado Water Conservancy District (NCWCD) are compared to show how different institutional arrangements can affect the types and size distributions of transfers. The characteristics of water rights transfers in the prosperous South Platte are then compared with water rights transfer characteristics in the economically marginal Arkansas River basin of Colorado to identify the effects of different economic environments. Finally, the economic losses from reductions in...
Climate warming-induced plant species loss is likely to be nonrandom and based on species-specific susceptibility to changing climate. We examined the ecological consequences of losing shallow-rooted forbs, a group of species we predict to be adversely affected by climate change based on their response to experimental warming. After three years of experimental species removal, tap-rooted forbs and grasses were able to fully compensate for the loss of shallow-rooted forbs with increased biomass production. Moreover, the remaining plant community yielded a larger biomass response to nitrogen addition when shallow-rooted forbs were removed, possibly because removal led to increased soil moisture. We conclude that,...