中文摘要：

在当前用水和排污限额几乎耗尽的情况下,水权和排污权交易能够提供的水资源或水环境调控空间相当有限。为此,本文以水环境裕量为置换出发点,探讨了农业水权和排污权相互置换的思路,根据置换参与方和置换效果确定了不同的置换方式,并针对水权排污权分别定价方式无法确定置换中第三方正效应购回费用的缺陷,提出了基于水体污染物浓度变化的水权排污权集成定价方法。算例分析表明,水权排污权相互置换可行域显著大于水权和排污权单独交易可行域,能适应更严格的水环境要求。

英文摘要：

In the current situation that the quotas of water abstraction and pollution emission are nearly exhausted, and the function of water trade and pollution emission permit trade is rather limited. For this reason,this article discusses the substitution between agriculturral water right and emission permit from the aspect of water environment allowance, identifies different types of substitution according to the participant and effects. To overcome the weakness that the buyback cost for positive third-party effects can not be identified using separate pricing about water and pollution emission permits in substitution, the integrated pricing basing on the change of water pollutant concentration is put forward. The example analysis shows that, the feasible region of substitution is significantly greater than the feasible regions of separate trade of water or pollution emission permit,and the substitution is able to adapt to more stringent water environmental requirements.