Ingram, H., Whiteley, J. M., Perry, R. (2008). The importance of equity and the limits of efficiency in water resources.

The authors argue that equity, and not efficiency or market forces and pricing structures, should determine the distribution of water resources. Rooted in common law and social ideals, equity involves recognizing and respecting the multiple values attributed to water. Equity can operate within a variety of legal frameworks, such as prior appropriation, riparian laws, or other social covenants. In such an environment, equity extends beyond the individual to community and transboundary welfare and governance. Fundamentally, the authors contend that "equity assumes that affected interests will participate in decisions. One of the most compelling arguments against efficiency is that it maximizes the power in decision making of those with financial and intellectual resources. Clearly, market participation favors those with money" (p.23).

Ingram, H., Whiteley, J. M., Perry, R. (2008). The importance of equity and the limits of efficiency in water resources. In J. M. Whiteley, H. Ingram, R. W. Perry (eds.), Water, Place, & Equity, pp. 1-32. Cambridge, MA: The MIT Press.