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Type: Journal article
Title: Value-driven river management: A Murray River case study
Author: Bean, N.
Jewell, N.
Citation: Australian Journal of Water Resources, 2013; 17(1):47-64
Publisher: Institution of Engineers Australia
Issue Date: 2013
ISSN: 1324-1583
Statement of
NG Bean and ND Jewell
Abstract: This paper outlines a quasi-economic hydrological model and management paradigm geared toward public and not-for-profit regulatory bodies, with particular reference to the southern Murray-Darling Basin in southeast Australia. This value-oriented model and paradigm bridges the gap between short-range hydrological forecasting and long-range economic planning. Decision-making is assisted by a scenario-based methodology with a clear distinction between baseline and marginal quantities. The paradigm has applications to seasonal planning, commercial water trading, environmental stewardship and structural adjustment. Specific applications to the Murray-Darling Basin include (i) evaluation of options for infrastructure upgrades and licence buybacks intended to address resource over-allocation, and (ii) revival and rationalisation of hydrological exchange rates for temporary and permanent water trades, with the aim of rigorously accounting for third-party effects.
Keywords: Environmental watering; Operations planning; Public policy; Regulated rivers; Water trading
Rights: © Institution of Engineers Australia, 2013.
RMID: 0020131331
DOI: 10.7158/W13-005.2013.17.1
Appears in Collections:Mathematical Sciences publications

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