Neal Hughes
Research Subjects
Neal Hughes has a total of 2 co-authors. Here are the top co-authors by number of shared publications:
- Ahmed Hafi
7b London Circuit, GPO Box 1563, Canberra Australian Capital Territory, Australia 2601
1 shared publication - Tim Goesch
7b London Circuit, GPO Box 1563, Canberra Australian Capital Territory, Australia 2601
1 shared publication
Latest Publications
- Open Access
- 17 March 2009
- Published by Wiley in Australian Journal of Agricultural and Resource Economics
- Vol. 53 (2) , 175-192
Urban water management: optimal price and investment policy under climate variability*
Australian urban water utilities face a significant challenge in designing appropriate demand management and supply augmentation policies in the presence of significant water scarcity and climate variability. This article considers the design of optimal demand management and supply augmentation policies for urban water. In particular, scarcity pricing is considered as a potential alternative to the predominant demand management policy of water restrictions. A stochastic dynamic programming model of an urban water market is developed based on data from the ACT region. Given a specification of the demand and supply for urban water state dependent optimal price and investment policies are estimated. The results illustrate how the optimal urban water price varies inversely with the prevailing storage level and how the optimal timing of investment differs significantly between rain dependent and rain independent augmentation options.
- 17 March 2009
- Published by Wiley in Australian Journal of Agricultural and Resource Economics
- Vol. 53 (2) , 175-192
Open AccessUrban water management: optimal price and investment policy under climate variability*
Australian urban water utilities face a significant challenge in designing appropriate demand management and supply augmentation policies in the presence of significant water scarcity and climate variability. This article considers the design of optimal demand management and supply augmentation policies for urban water. In particular, scarcity pricing is considered as a potential alternative to the predominant demand management policy of water restrictions. A stochastic dynamic programming model of an urban water market is developed based on data from the ACT region. Given a specification of the demand and supply for urban water state dependent optimal price and investment policies are estimated. The results illustrate how the optimal urban water price varies inversely with the prevailing storage level and how the optimal timing of investment differs significantly between rain dependent and rain independent augmentation options.