economic valuation

Using economic valuation methods, we can assist you in addressing questions like:

 

• What is the willingness of individuals to pay or accept compensation for environmental change?

• What are the reasons why individuals have preferences for the environment?

• What factors influence individuals' behaviours, willingness to pay, or willingness to accept?

• How can the evidence on individuals’ preferences be used in decision-making? 

 

Why Choose Economic Valuation?

 

Market data provide insights into the costs and benefits of numerous goods and services. We collect and analyse data on consumption behaviour to estimate the value placed on market goods and services, and preferences for related non-market goods and services – such as spending on water filters for improved quality or taste (an example of avertive expenditure or aversive behaviour approach).  

 

Where market data are not sufficient to understand how people value public or common goods, we use specially designed economic valuation methods. We carefully gather, analyse, and interpret qualitative, quantitative, and monetary data using travel cost, hedonic pricing, contingent valuation and choice modelling methods.

 

We also conduct value transfer (selecting and adapting evidence from the literature). Lately, we've been participating in economic valuation workshops/experiments and conducting subjective well-being analyses.

 

The evidence we create helps compare the costs and benefits of market and public goods in the same unit, i.e. money. Our findings play a crucial role in:

 

• Selecting amongst competing investment options with diverse environmental impacts

• Prioritising policy options to restore, maintain and enhance nature or address related challenges

• Developing policy instruments like habitat banking, biodiversity offsets, tradable permits, green taxes, and voluntary agreements designed to make invisible values of nature visible.

 

We've conducted valuation studies across public and private sectors, spanning a broad spectrum of industries and environmental concerns, including: 

 

• Water resources and wastewater management

• Recreation and tourism

• Energy generation and air quality

• Air pollution and human health

• Transport and landscape

• Road and rail noise and vibration

• Urban regeneration

• New housing and brownfield development

• Cultural and historic heritage sites

• Environmental and health impacts of pesticide use

• Benefits of species recovery 

• Marine birds and mammals

• Social impacts of utility bills and acceptability of bill changes

• Value of corporate information and non-financial reporting

 

Some of our clients for this service include:

 

Department for Environment, Food & Rural Affairs (Defra), Department of Transport, Environment Agency (England), English Heritage, Scottish Government, Thames Water, Anglian Water, United Utilities and almost all other water companies in England and Wales, National Grid, His Majesty’s Revenue and Customs, Department for Business and Trade, Companies House

 

Contact Person: Allan Provins