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Estimates from the FAO Penman–Monteith (FAO-PM) and the standardized ASCE Penman–Monteith (ASCE-PM) hourly and daily reference evapotranspiration ( ET 0 ) equations were compared at daily scale, based on the hourly climate data collected from forty (40) geographically and climatologically diverse Automatic Weather Stations (AWS) across the Australian continent. These locations represent 23 agricultural irrigation areas in tropical, arid and temperate climates. The aims of this paper are to: compare the effects of different methods of estimating Clear-sky-radiation—( R so ); compare sum-of-hourly and daily ET 0 ; compare the results of aggregation of hourly ET 0 over 24 h compared with daylight hours; and examine the impact of seasonality and climate type. At selected AWS locations, the hourly ET 0 was calculated using the hourly FAO-PM and the ASCE-PM equations and then summed to derive daily ET 0 (reported as ET 0,soh ). This was compared against the daily ET 0 values, calculated using the corresponding daily equation (reported as ET 0,daily ). Using R so calculated following the “complex” approach improves the agreement between ET 0,soh and ET 0,daily of both hourly equations, compared with the “simple” approach. Better agreement between ET 0,soh and ET 0,daily estimates for the FAO-PM and ASCE-PM were found, when the hourly values are aggregated over 24 h rather than over daylight hours. The average ratio between ET 0,soh and ET 0,daily for the FAO-PM and ASCE-PM equations is 0.95 and 1.00, respectively. The range of the former is 0.90–0.98 and that of the latter is 0.96–1.04. There was very strong correlation between the two hourly equations at the daily time step: on average 0.997, with a range of 0.993–0.998. The results imply that the ASCE-PM hourly equation's daily ET 0 values are higher than those of FAO-PM, which can be explained by the difference in the treatment of surface resistances. Better agreements between ET 0,soh and ET 0,daily values for winter, spring and autumn were found for the FAO-PM version, while during summer, the ASCE-PM version showed better agreement. The best agreement between the hourly and daily results for the FAO-PM version was found in temperate climates and the ASCE-PM version showed best agreement in the tropical and arid climates. [ABSTRACT FROM AUTHOR]

The transfer of successful water market governance between international settings is increasingly attractive to policy makers under globalization. This paper tests lesson-drawing approaches to water market governance transfers using data from Spain and the Murray-Darling Basin, Australia. Spain is the blueprint country for water market adoption in Europe, while Australia is often presented as a world leader in innovative water market arrangements. A preliminary comparative analysis framework linking water market governance principles to observed institutional arrangements and outcomes is provided. Finally, some key lessons, problems and policy transfer potential to stimulate and enhance Spanish water markets from lesson-drawing approaches are drawn, with an emphasis on adaptive capacity as an institutional performance metric. We find that Spain's current water governance institutions and arrangements offer a solid platform for marketing reform, where some key adaptive capacity constraints are able to be addressed. The lessons drawn from this study highlight those areas of change which, while challenging, can be achieved in our view. • Lesson drawing methods offer a novel way to assess adaptive capacity in policy settings. • Australia's water markets provide a case study for comparing Spain's readiness for water market adoption. • Current institutional strengths and weaknesses are identified via the analysis. • Future adaptive capacity evaluation offers useful insights for water governors and policy-makers. [ABSTRACT FROM AUTHOR]