Integrating economic values and catchment modelling
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Integrated catchment policies are widely used to manage natural resources in Australian catchments.
Decision support tools available to aid integrated catchment management are often limited in their
integration of environmental processes with socio-economic systems. Fully integrated models are
required to support assessments of the environmental and economic trade-offs of catchment
management changes. A Bayesian Network (BN) model is demonstrated to provide a suitable
approach to integrate environmental modelling with economic valuation. The model incorporates
hydrological, ecological and economic models for the George catchment in Tasmania. Information
about the non-market costs and benefits of environmental changes is elicited using Choice
Experiments, allowing an assessment of the efficiency of alternative management scenarios.