Good to the Last Drop? An Assessment of Canadian Water Value Estimates

This article examines the valuation of the economic benefits from water use and critically assesses the state of knowledge regarding these values in Canada. The Total Economic Value model provides a comprehensive framework for understanding the economic benefits from water. However, the full contribution of water to the Canadian economy is poorly understood due to a lack of empirical evidence. This situation has significant implications for the efficient management of water in Canada. Specifically, a variety of water-related decisions that require valuation information in order to be efficient are being carried out in the absence of accurate estimates of the economic benefits arising from water use.