A method for assessing the importance of farm level capital investment decisions in the analysis of water reforms
Traditional approaches to estimating the potential benefits of water reform, including the introduction of water markets, have relied on short-run models which assume irrigation capital is either fixed or not a constraint on decision making. Other studies have incorporated a long-run decision framework, accounting for capital investment decisions but generally keeping short-run decisions relatively simple. This paper presents firstly an approach to modelling both long and short-run decision...[Show more]
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