“…Approximately 98% of this water use is for agricultural purposes (Giró n Echeverry 2003). In similar irrigated agriculture systems in Ecuador, water was valued to be worth US$ 0.26 per cubic meter (Rodriguez 2003). For this analysis, this same value for water, adjusted for inflation, was applied to the reduction in runoff for each year, yielding a shadow price for changes in water quantity after planting a pine forest.…”