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Integrating economic values and catchment modelling

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  • Kragt, Marit Ellen
  • Bennett, Jeffrey W.

Abstract

Integrated catchment policies are widely used to manage natural resources in Australian catchments. Decision support tools available to aid integrated catchment management are often limited in their integration of environmental processes with socio-economic systems. Fully integrated models are required to support assessments of the environmental and economic trade-offs of catchment management changes. A Bayesian Network (BN) model is demonstrated to provide a suitable approach to integrate environmental modelling with economic valuation. The model incorporates hydrological, ecological and economic models for the George catchment in Tasmania. Information about the non-market costs and benefits of environmental changes is elicited using Choice Experiments, allowing an assessment of the efficiency of alternative management scenarios.

Suggested Citation

  • Kragt, Marit Ellen & Bennett, Jeffrey W., 2009. "Integrating economic values and catchment modelling," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 47956, Australian Agricultural and Resource Economics Society.
  • Handle: RePEc:ags:aare09:47956
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    Keywords

    Integrated catchment modelling; Bayesian networks; Uncertainty; Environmental values; Non-market valuation; Choice Modelling.;

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