Contingent Valuation of Nonmarket Benefits in Project Economic Analysis

Download or read book Contingent Valuation of Nonmarket Benefits in Project Economic Analysis written by Asian Development Bank and published by . This book was released on 2021-12-27 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guide explains how to measure people's willingness to pay for goods and services, such as improved air quality, that are not traded in a market. It aims to help improve the assessment of potential investment projects. Accounting for the value of nonmarket benefits and costs is an essential part of project economic analysis. The contingent valuation method (CVM) is a stated preference approach used in many areas of public policy, including water supply and sanitation, health, tourism, and cultural heritage. This book aims to support practitioners who are engaged to prepare and implement CVM studies as part of investment appraisal.