The fact is that the best way to reconcile values is in a market (you know, like the one for houses, oil, used cars, etc.), which is why I designed the All-in-Auction (AiA) based on my dissertation on the Metropolitan Water District of Southern California (see Chapter 7).
Water markets are hard to set up when you need to specify rights, figure out infrastructure, determine who can buy and sell, worry about environmental impacts, etc., but they are EASY to use WITHIN existing water users associations (see above), which is why the AiA can be implemented TOMORROW for those agencies seeking ways to re-distribute scarce water WITHOUT forcing users to sell (see the AiA materials for more.)
So... feel free to use those designs or contact me for more information.
The alternatives (lawsuits, conflict and economic and social disruptions) are far worse.
H/T to RM