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In response to a question about the possibility of water conflict in the Middle East, Gideon Fishelson of Tel Aviv University responded, "Water is a scarce resource. Scarce resources have value. And the value of the water in dispute is bounded above by the replacement cost given by desalination, with that upper bound note very high." That statement gave the impetus for the Water Economics Project, the work and results of which is described in this volume edited by Fisher (emeritus, microeconomics, Massachusetts Institute of Technology) and Huber-Lee (Stockholm Environment Institute, Tellus Institute, Sweden). The contributions describe the cost-benefit analysis of water value using the computer-driven Water Allocation System and how the optimizing model of crop choice called the Agricultural Submodel is affected by water policies water conditions and policies. Both of these tools are then used to analyze the water situations in Israel, Palestine, and Jordan. Distributed in the US by Johns Hopkins U. Press. Annotation ©2006 Book News, Inc., Portland, OR (booknews.com)
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