. However, the presence of large, sunk investment and the uncertainty of future returns will have an impact on the efficiency of … Murrumbidgee Irrigation Area is used to quantify the effect of sunk investment cost and uncertainty of future returns on the …

. Traditional cost-benefit analysis under uncertainty has shortcomings when considering high-risk investment, largely due to the … choice of how to discount uncertainty outcomes. A corollary is that traditional cost-benefit analysis does not place a value … way of objectively placing a value on changes in the level of uncertainty that does not depend on an assumption about a …

; cotton and field crops). The supply of water for irrigation is subject to climatic and policy uncertainty. Variable inflows … issues facing irrigators, greater pressure is being placed on this finite resource. The uncertainty of the water supply …

uncertainty on decisions to invest in irrigation technology and infrastructure is examined. The potential for uncertainty to … circumstances where uncertainty surrounding the value of water savings is significant enough to influence the decision to invest in … water saving technologies. The results also demonstrate that where uncertainty exists, rates of subsidy to encourage faster …