We have already seen that water is essential and finite. This combination makes that water is scarce in some
river basins. The fact that water is scarce strengthens the argument that water is an economic good, in the sense
that it cannot fully satisfy demand for all its alternative uses. Also, the fact that water is a complex system (see
Box 2.1) can be addressed by economic modelling. It requires the integration of hydrological and economic
models. This can be done, as demonstrated by e.g. Keyzer (2000), Rosegrant et al. (2000) and Cai et al. (2003).
The fact that water is fugitive (see Box 2.1) would not be a problem either if it weren't so bulky.