Contingent Valuation is a survey-based, economic technique for the valuation of non-market resources, such as environmental preservation or the impact of contamination. In this methodology people’s willingness to pay is determined via a hypothetical market mechanism. With the contingent valuation method for nature validation, non-financial values in BwN-projects can be expressed in monetary terms in order to include them in a Socio-economic Cost Benefit analysis (SCBA). This is important as a SCBA gives a strong argument to start a project when the benefits for society exceed the costs.
Project Phase: Planning & Design, Initiation
Type of assessment: Environmental Economics
Purpose: Creating a market-price for the valuation of an ecosystem through people’s willingness to pay
Requirements: Experience with survey-development and -analysis
Relevant Software: Statistical Programme