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Abstract
The Victorian Environmental Assessment Council is conducting an investigation into
the management of the public land River Red Gum Forests of the Murray River Valley
in Victoria. In this paper the authors apply the results of an earlier Choice Modelling
exercise commissioned by VEAC to estimate the non-use values of the forests. A
Benefit Cost Analysis of VEAC's draft recommendations included assessment of the
market and non market values associated with different River Red Gum forest
management strategies. It is concluded that the use of water for environmental flows
is competitive with its use for irrigation. Other economic values associated with
timber harvesting, grazing and duck hunting are small in comparison with the water
values.