Black, F., & Scholes, M. J. (1973). The pricing of option and corporate liabilities. Journal of Political Economy, 81, 637-542.
 Bauer, C. J. (1997). Bringing water markets down to earth: The political economy of water rights in Chile. World Development, 5, 639- 656. doi:10.1016/S0305-750X(96)00128-3
 Chen, J., & Xu, C. X. (2006). Options trading patterns of the water rights in China. Chinese Journal of Population Resources and Environment, 2, 42-44.
 Dai, T. S., & Zhao, W. H. et al. (2009). Evaluation model of water option value based on real options theory. Systems Engineering, 5, 67-71.
 Ge, Y. X., & Hu, J. L. (2004). Idea of deploying water resources of agriculture by using option system. Social Science of Shandong, 10, 49-51.
 Hafi, A., Beare, S., Heaney, A., & Page, S. (2005). Water options for environmental flows. ABARE Report.
 Han, T. J. S., & Lenos, T. (2006). Real options and games: Competition, alliances and other applications of valuation and strategy. Review of Financial Economics, 15, 95-112. doi:10.1016/j.rfe.2005.12.001
 Jiang, J. Y., & Xue, Y. (2008).The idea of agricultural water option trading in Zhejiang. Business Times, 23, 100-101.
 Liu, W. H. (2004). Thoughts on the construction of futures and options trading water market. Water Resources Development Research, 6, 36-41.
 Merton, R. C. (1982). Theory of rational option pricing. Bell Journal of Economics and Management Science, 4, 141-183.
 Michelsen, A., & Young, R. (2000). Optioning agricultural water rights for urban water supplies during drought. American Journal of Agricultural Economics, 11, 1010-1020.
 Pigram, J. J. (1999). Tradable water rights: The Australian experience.
 Qiu, L., & Wang, H. et al. (2008). Water option pricing model based on monte carlo—Eastern front of South-North water diversion. Statistics and Decision, 23, 61-64.
 Rosegrant, M. W. R., & Renato, G. S. (1994). Reforming water allocation policy through markets in tradable water rights: Lessons from Chile, Mexico and California. Washington DC: International Food Policy Research Institute.
 Sokile, C. S., & Koppen, B. (2004). Local water rights and local water user entities: The unsung heroines of water resource management in Tanzania. Physics and Chemistry of the Earth, 29, 1349-1356.
 Villenski (2002). Valuing multiple-exercise of options contracts: Methodology and application to water markets. American Agriculture Economic Association Annual Meeting, CO: Denver, 8.
 Wang, H. M., Qiu, L. et al. (2008). Water option and its pricing model—Eastern front of South-North water diversion. Systems Engineering, 7, 45-51.
 Zhen, X. Y., & Chen, J. X. (2000). Study on Exotic option and its pricing model. Management Engineering Report, 14, 56-60.
 Zhou, J., & Gong, R. C. (2007). Variety exchange rate linkage option pricing formula on the condition of the model of stochastic interest rate. Statistics and Decision, 7, 142-143.
 Zhang, Y., Qin, L. J., & Jin, Y. H. (2002) Tentative plan of establishing south-north water market with the idea of futures market. Chinese Journal of Population Resources and Environment, 2, 57-60.