Impacts of changing water ownership and reforms on Australian water markets. Water markets play a critical role in helping Australia’s food bowl survive periods of severe drought. This project aims to evaluate how the Murray-Darling Basin water markets performed, in terms of the impact of water ownership, and investigate how water reforms have affected rural communities over the past two decades. Expected outcomes include a clearer understanding on how different water ownership structures impact ....Impacts of changing water ownership and reforms on Australian water markets. Water markets play a critical role in helping Australia’s food bowl survive periods of severe drought. This project aims to evaluate how the Murray-Darling Basin water markets performed, in terms of the impact of water ownership, and investigate how water reforms have affected rural communities over the past two decades. Expected outcomes include a clearer understanding on how different water ownership structures impact price and price volatility of water, market power, economic welfare of water traders, and what social and economic impacts water reforms in the past decades have in the Basin. The findings will provide critical evidence for evaluating future water reforms, building resilient rural communities and safeguarding food security.Read moreRead less
Australian Laureate Fellowships - Grant ID: FL190100164
Funder
Australian Research Council
Funding Amount
$3,336,000.00
Summary
Water Justice: Indigenous Water Valuation and Resilient Decision-making . The aim is to value water and support resilient decision-making for water justice. Its significance is to provide missing socio-cultural-environmental values of First Peoples water, the absence of which means Indigenous demands for water justice are frequently ignored. Project outcomes will empower First Peoples and support resilient and evidence-based decision-making. The key benefit is a sustainable Australia through: fi ....Water Justice: Indigenous Water Valuation and Resilient Decision-making . The aim is to value water and support resilient decision-making for water justice. Its significance is to provide missing socio-cultural-environmental values of First Peoples water, the absence of which means Indigenous demands for water justice are frequently ignored. Project outcomes will empower First Peoples and support resilient and evidence-based decision-making. The key benefit is a sustainable Australia through: first-ever conjoint socio-cultural values of First Peoples’ water; transformative decision-making to account for Indigenous values and risks (such as droughts); and a Water Justice Hub to create a generation of scholars in integrated water valuation, resilient decision-making, and Traditional Water Knowledge. Read moreRead less
Benefits and costs of non-market valuation for environmental management. Benefits from environmental policies are often unpriced “non-market values” (NMVs). Environmental agencies struggle to know how best to measure these relatively intangible benefits, but doing so is important to ensure value for money from public investments. Environmental economists have developed and applied a wide range of methods for estimating NMVs. The methods vary in their comprehensiveness, accuracy and cost. Yet no ....Benefits and costs of non-market valuation for environmental management. Benefits from environmental policies are often unpriced “non-market values” (NMVs). Environmental agencies struggle to know how best to measure these relatively intangible benefits, but doing so is important to ensure value for money from public investments. Environmental economists have developed and applied a wide range of methods for estimating NMVs. The methods vary in their comprehensiveness, accuracy and cost. Yet no rigorous tool is available to assess (a) which NMV method is best to implement, accounting for its cost and its potential to improve decisions, or (b) whether any NMV method improves decisions enough to warrant its cost. In creating such a tool, this project will deliver a key breakthrough in environmental economics.Read moreRead less