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A micro-simulation model of irrigation farms in the southern Murray-Darling Basin

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Document pages: 44 pages

Abstract: This paper presents a farm level irrigation microsimulation model of thesouthern Murray-Darling Basin. The model leverages detailed ABARES survey datato estimate a series of input demand and output supply equations, derived froma normalised quadratic profit function. The parameters from this estimation arethen used to simulate the impact on total cost, revenue and profit of ahypothetical 30 per cent increase in the price of water. The model is stillunder development, with several potential improvements suggested in theconclusion. This is a working paper, provided for the purpose of receivingfeedback on the analytical approach to improve future iterations of themicrosimulation model.

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