| Abstract: | ABSTRACT. . Policy impact assessment is an important task for economic research, especially in the context of water use, where both water quantity and quality issues are crucially linked to human decision making. The resulting impact on water use benefits has many dimensions, representing both market based values with an indication of prices and also non‐market values. This paper aims to develop a model to examine water use benefits within an integrated multi‐disciplinary focus. The integration of market and nonmarket values is implemented in a computable general equilibrium framework. Production functions for nonmarket values are formalized through multi‐criteria analysis. This paper explains how such an integrated approach can be applied using different scenarios for the Great Barrier Reef region in Australia. |
