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| Beare, Stephen; Bell, Rosalyn; Harrison, Scott. |
| Uncertainty has long been recognised as an important aspect of renewable resource assessment and management. Stochastic optimal control provides a framework in which to incorporate uncertainty, whether arising from fluctuations in the biological or economic environment or from lack of a precise understanding of inter-relationships within a system. However, overlaying complex and interdependent biological, physical and economic relationships with uncertainty often results in an optimal control problem which is analytically complex. In this paper, a parametric approximation to the control equation is combined with genetic search algorithms to solve the stochastic control problem. The parametric approximation to the solution of optimal control problems is... |
| Tipo: Presentation |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 1999 |
URL: http://purl.umn.edu/123763 |
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| Bell, Rosalyn; Gali, Jyothi; Gretton, Paul; Redmond, Ineke. |
| The flexibility of farms to respond to changing economic or environmental conditions has received attention in recent years, particularly in the context of changes in the availability and pricing of irrigation water. This study uses a new unit record data set of Australian farms and a generalised profit-function framework to assess the links between farm performance and water use practices, involvement in water trading and other farm characteristics. Amongst other findings, the study provides experimental estimates of the responsiveness of the demand for irrigation water to price changes and the impact of farmers either buying or selling water on farm profits, after controlling for other factors. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Farm performance; Irrigation; Water trade; Price elasticity; Farm Management. |
| Ano: 2007 |
URL: http://purl.umn.edu/9454 |
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| Bell, Rosalyn; Beare, Stephen. |
| There is pressure in Australia for water management reform to ensure an efficient allocation of resources between productive uses and to provide adequate conservation of the environment. The establishment of water markets and trade has been seen as the primary mechanism for improving the efficiency of water use in the Southern Murray Darling Basin. However, with the existing trading arrangements, irrigators can only reallocate water within a season. Individuals do not hold property rights that allow them to manage the variability in water demand and supply between seasons. The objective of the study presented in this paper is to establish an order of magnitude for the benefits of property rights that allow for inter-seasonal arbitrage in water markets. A... |
| Tipo: Presentation |
Palavras-chave: Demand and Price Analysis; Resource /Energy Economics and Policy. |
| Ano: 1999 |
URL: http://purl.umn.edu/123765 |
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| Bell, Rosalyn. |
| While there is potential for substantial benefits from water entitlement trade, external effects such as salinity may mean that traders cannot capture these benefits. This paper demonstrates that by creating a trading house as a single seller of water entitlements, with trade profits distributed to buyers, it is possible to achieve an allocation of entitlements which gives a social outcome higher than that possible from atomistic competition for entitlements. Such an outcome may be comparable to an optimally set uniform charge for water entitlements, but the trading house mechanism has the advantage that it makes use of trade to generate information on the optimal level of charging in the presence of salinity. |
| Tipo: Article |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2002 |
URL: http://purl.umn.edu/118619 |
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| Heaney, Anna; Beare, Stephen; Bell, Rosalyn. |
| A modelling framework incorporating relationships between agricultural production and groundwater hydrology was developed to estimate the benefits of improved irrigation efficiency in the Riverland of South Australia. Increased irrigation efficiency can generate external benefits to downstream users through reduced discharge of saline groundwater. In the Riverland these benefits are large in comparison to the direct value of the irrigation water. However, the non‐exclusive and site‐specific nature of these benefits makes it difficult to fully internalise them through market instruments such as salinity credits. Achieving optimal irrigation efficiency is likely to require institutional arrangements that promote collective investment and public expenditure. |
| Tipo: Journal Article |
Palavras-chave: Land Economics/Use. |
| Ano: 2001 |
URL: http://purl.umn.edu/117573 |
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