Valuing Water: The Australian Perspective. Economic values of water under scarcity in the Murray-Darling Basin.

This is one in a series of four reports that examine how the diverse values placed on water have shaped the development and management of water resources in the Murray Darling River Basin. The report explores how changing values have affected the management of scarce water resources in the Murray-Darling River Basin.

Four main phases in water management are described, together with an exploration of how changing perceptions of value have shaped policy, objectives and outcomes over time.

This report shows how water management can be adjusted in response to changes in our understanding of value and how this understanding can lead to more transparent valuation processes. Although water policies in the Basin have supported an open and flexible economy, and resilient and adaptive businesses, significant challenges remain in the management of its environmental and cultural values.