This talk, of the CLIMAWARE project series, was given by Martina Sartori, a young economist, part of the group of the project. The talk was the occasion to exchange information about the type of models and the scale of modelling economists use to assess the impacts of variation of water availability on the economic system.
I have to say that the discussion was interesting. The scale economists use is much larger than catchment scale, mostly because their models are parametrised on the knowledge of nations' exchanges more than regional ones. Model themselves seem not to be very complex from the mathematical point of view, but they treat thousands of parameters which makes them complicates. These parameters are collected by specialised companies and/or institutions by sorting out transactions among countries and looking at the global market. Probably the theoretical foundations of these models could not be so unassailable, but, however, they embeds a lot of empirical knowledge. For us was important to talk together.