Water price dynamics, water derivatives and general equilibrium modelling

Schreider, S 2009, 'Water price dynamics, water derivatives and general equilibrium modelling', in Anderssen, R.S., R.D. Braddock and L.T.H. Newham (ed.) Proceedings of the World IMACS Congress and MODSIM09 International Congress on Modelling and Simulation, Cairns, Australia, 13-17 July 2009, pp. 3640-3646.


Document type: Conference Paper
Collection: Conference Papers

Title Water price dynamics, water derivatives and general equilibrium modelling
Author(s) Schreider, S
Year 2009
Conference name World IMACS Congress and MODSIM09 International Congress on Modelling and Simulation
Conference location Cairns, Australia
Conference dates 13-17 July 2009
Proceedings title Proceedings of the World IMACS Congress and MODSIM09 International Congress on Modelling and Simulation
Editor(s) Anderssen, R.S., R.D. Braddock and L.T.H. Newham
Publisher Modelling and Simulation Society of Australia and New Zealand
Place of publication Christchurch, New Zealand
Start page 3640
End page 3646
Total pages 7
Abstract The Council of Australian Government's (COAG) water reforms of 1994 opened a new era in the irrigated agriculture market. After the separation of land and water rights, water became a tradable commodity. In the past, the value of water was significantly underestimated, which led to irrational ways of using this valuable natural resource. The water tariffs were not related to the marginal values of crops grown by irrigators, which caused unsustainable consumption of water, especially during the drought years. The major aim of the COAG reforms was to enable a proper market value for water and to re-allocate water consumption to more economically valuable crops.
Subjects Operations Research
Keyword(s) modelling
water resources
CGE models
ISBN 9780975840078
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