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Valuation projects

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Title Abstract
The Economics of WhalingThis study was commissioned to investigate anecdotal information to determine whether commercial whaling is economically viable in its own right or whether it has only been made viable due to government subsidies. Economic information such as the operational costs of running a whaling vessel, market prices and sales of whale meat and blubber, marketing costs, processing and storage costs and government subsidies in Norway and Japan were analysed to discover the net economic impacts of whale-hunting in these whaling countries. A report was written and delivered for discussion at the 2009 annual meeting of the International Whaling Commission.
Productive SEAS Evidence Group Feeder ReportContributing to the development of this feeder report for Charting Progress 2, the Government’s follow-up to its initial Charting Progress report on the state of the marine environment in the UK in 2005. Specifically, helping to identify and source economic data for industry sectors with a presence in UK’s marine environment and undertake an assessment of the environmental costs of sectoral impacts.
Valuing Transport’s Impact on the Natural LandscapeThe study organised a stated preference survey in three phases: 1) initial research to define typical landscapes and transport schemes that affect them, to set the economic valuation context and method selection; 2) test the survey instrument and value transfer model; 3) implement the stated preference survey, data analysis and reporting. The study developed transferable monetary values for the impacts that individual transport schemes have on the natural landscape in England. The addition of landscape values into NATA in monetary terms: (i) enables the direct comparison of impacts on the landscape to more traditional monetary costs and benefits in transport appraisal; and (ii) provides useful information concerning landscape mitigation measures for individual schemes.
The Benefits of Water Leakage ReductionAs part of their preparation for the Price Review 2009 (PR09), Thames Water Utilities (TWU) measured their customers’ preferences to reduce the current leakage level. A contingent valuation stated preference survey was used where respondents were told that they will be ensured secure quality and quantity of water supply to their taps but they can choose an option that delivers the same amount and quality of water and also reduces leakage. They are told that it is not feasible to achieve zero leakage and asked to state their preference for a 5% reduction from the current rate. The results were used in supporting the leakage reduction investments in TWU's PR09 cost-benefit analysis.
Wallasea Island Economic Benefits StudyThe Royal Society for the Protection of Birds proposed a large-scale managed realignment and nature reserve creation project at Wallasea Island in Essex. To inform the East of England Development Agency's decision-making on whether to support the project financially, this study outlines the expected economic benefits of the project. Such benefits include: improved flood protection on the surrounding estuaries; saved flood defence maintenance spending; increased economic activity from site development and management, and additional visitor spending in the local economy. Strategic benefits such as soil disposal from major infrastructure projects, and ecosystem services benefits such as carbon and nutrient absorption, are also examined.
Valuing our Natural Environment (VONE)Decisions to use, conserve, enhance or protect the natural environment involve trade-offs, in the form of forgoing alternative uses for both the natural resources involved and for public money. This project reviewed all robust (economic and non-economic) methodologies in terms of their theoretical basis and their use in practice. In addition, the project provided a strategic overview of the existing evidence on the value of the natural environment. The project consulted decision makers in Defra and other stakeholders in terms of their needs for evidence on the value of natural environment and their experience with using different methodologies and conveying their outputs. The report guides the use of valuation methods. It is also referenced in defra’s 'Introductory Guide to Valuing Ecosystem Services'.
Hong Kong Harbour Landscape and Cultural Heritage Stated Preference SurveyThis study aimed to elicit Hong Kong residents’ views of the current and potential future states of the harbour and its cultural significance and value. eftec’s role was one of peer reviewing the valuation questionnaire and guide the project’s analysis. Because Hong Kong Harbour is set to be affected by current and future land use plans, and the survey evidence contributed to, and supported a critique of, those plans.
Overview of Valuation of Visual Impacts for Transmission Price Control Review (TPCR)eftec provided a review of the conceptual approach to economic value in the context of changes in the landscape due to the electricity and gas transmission infrastructure. It explored the scope for using the available evidence in decision-making, and identified gaps in the literature. The study provided a literature review and recommendations for future policy making and research. The report guides Ofgem’s use of the available valuation evidence in its price control reviews.
Willingness to Pay the BBC Licence Fee During the Next Charter PeriodThree surveys (a short addition to YouGov Omnibus survey, a full survey and a survey in which respondents are primed about the contribution of BBC to British society) took place in June 2006. eftec acted as peer reviewer for this project undertaken by The Work Foundation and YouGov. The review tasks included commenting on the questionnaire design, commentary on analytical approaches, auditing at the end of the project and overall troubleshooting as necessary. The project estimated WTP for current and proposed new TV, radio, online and other services by BBC. The results inform DCMS’s decision about the level of the BBC licence fee for 2007 - 2016.
Populating EVRI (Environmental Valuation Reference Inventory)Fifty economic valuation studies, mainly from various European countries, were entered into the EVRI (www.evri.ca) database of environmental valuation studies. This input to the database expands its coverage of European studies.

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