Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/134129
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Type: | Journal article |
Title: | Incorporating uncertainty in the economic evaluation of capital investments for water use efficiency improvements |
Author: | Adamson, D. Loch, A. |
Citation: | Land Economics: a quarterly journal devoted to the study of economic and social institutions, 2021; 97(3):655-671 |
Publisher: | University of Wisconsin Press |
Issue Date: | 2021 |
ISSN: | 0023-7639 1543-8325 |
Statement of Responsibility: | David Adamson, Adam Loch |
Abstract: | Long-run investments in water-use efficiency (WUE) are risky, particularly where water is required as a secure input. State-of-nature representations of supply outcomes provide an increased understanding of the vulnerability of capital and water users to adverse events. Using Californian data, we couple cost-benefit analysis to a state-contingent analysis approach to explore the riskiness of WUE investment payoffs and cash-flow outcomes when frequencies of states of nature change over the investment course. Critically, this allows us to represent decision-maker adaptation in the face of risk and uncertainty and the role of subsidy policy in those decisions. |
Rights: | © 2021 by the Board of Regents of the University of Wisconsin System. This open access article is distributed under the terms of the CC-BY-NC-ND license http://creativecommons.org/licenses/by-nc-nd/4.0) and is freely available online at: http://le.uwpress.org. |
DOI: | 10.3368/wple.97.3.100119-0143r |
Grant ID: | http://purl.org/au-research/grants/arc/DE160100213 http://purl.org/au-research/grants/arc/DE150100328 |
Published version: | http://dx.doi.org/10.3368/wple.97.3.100119-0143r |
Appears in Collections: | Global Food Studies publications |
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hdl_134129.pdf | Published version | 692.1 kB | Adobe PDF | View/Open |
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