Hydro-Economic Model Webinar
A simple water model is developed to illustrate the importance of water allocation as an adaptation to climate change. There are two users in this model: farmers and households. Households represent the demand by villagers, municipalities, and industry. Empirical studies in Asia have shown that municipalities, households, and industry have more price inelastic (steeper) demand functions than farmers. This is captured in this model by the relatively steep demand given to households.
You can find the video recording of this webinar session here.