Today we're joined by David Pannell to talk economics and the water sensitive city.
Water sensitive cities have the potential to deliver a whole range of benefits to society, however it's not all plain sailing. A large number of the benefits of water sensitive cities are 'non-market benefits'. This means that they're a bit tricky to quantify.
If you don't quantify them, it's hard to justify spending money on those projects, and hard to tell which projects are more valuable than others.
This is where economics comes in.
David and I discuss the CRC for Water Sensitive Cities' latest research into the economics of the water sensitive city. David outlines three key elements to consider when considering any economic investigation.
Writing a brief to assess the benefits of your project?
These three elements will help!