Physical Sciences and Mathematics Commons^™

Hydro-Economic Models: Concepts, Design, Applications, And Future Prospects, Julien Harou, Manuel Pulido-Velazquez, David E. Rosenberg, Josue Medellin-Azuara, Jay Lund, Richard Howitt

Civil and Environmental Engineering Faculty Publications

Future water management will shift from building new water supply systems to better operating existing ones. The variation of water values in time and space will increasingly motivate efforts to address water scarcity and reduce water conflicts. Hydro-economic models represent spatially distributed water resource systems, infrastructure, management options and economic values in an integrated manner. In these tools water allocations and management are either driven by the economic value of water or economically evaluated to provide policy insights and reveal opportunities for better management. A central concept is that water demands are not fixed requirements but rather functions where quantities …