Option values for reserve water in the Fitzroy Basin
Option values are an important component of non-use values when development options for environmental assets are considered. This is because development effects are often irreversible. Non-use values are normally assessed as a package because it is difficult to separate and estimate values independently. However, the development of the Choice Modelling (CM) technique, with its ability to decompose values into component attributes, provides the potential for option values to be assessed as a...[Show more]
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