Abstract
Two key questions regarding the management of Australia's riverine environments are addressed: how much water should be allocated for environmental flows; and how should water entitlements for environmental flows be acquired and managed. First, an application of the choice modelling technique in the context of River Red Gum forests along the River Murray is used to demonstrate how the marginal values of water for the environment can be estimated for comparison against prices paid by extractive users of water. Second, mechanisms in the public and private sectors for the purchase of environmental water are contrasted.
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