SWAN

SWAN is a project funded by the Program for the Attraction of Scientific Talent. SWAN will explore how economic instruments (EI) such as charges or markets can help coordinate individual decisions and align them with collective objectives such as efficiency, equity and sustainability at a basin scale. The research is divided in three stages: 1) multi-model ensemble forecasting (micro-, macro-economic and hydrological) to quantify modelling uncertainty and assess the costs and benefits of EI for users and the wider economy; 2) institutional transaction costs measurement to assess institutional adaptive ability to efficiently adopt EI; and 3) bounded rationality framework to inform uncertainty management in decision making. Methods will be illustrated with applications in the Po River Basin District (RBD) in Italy and the Duero and Segura RBDs in Spain.