Abstract
Participatory Value Evaluation (PVE) is a new survey method which elicits citizens' preferences over the allocation of public budgets as well as their private income. In a PVE, citizens are asked to choose the best portfolio of projects given a governmental and a private budget constraint. First, this paper aligns PVE with the traditional Kaldor-Hicks welfare economics framework underlying many Cost-Benefit Analyses. Second, this paper positions PVE against other valuation methods. Third, this paper applies the PVE method to evaluate the impacts of projects mitigating flood risks in the Netherlands. This empirical application reveals that Dutch citizens indicate a preference for projects that combine strengthening dikes and give space to the river to flood safely, particularly when such projects positively influence biodiversity and recreational opportunities.
Original language | English |
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Article number | 100188 |
Pages (from-to) | 1-17 |
Number of pages | 17 |
Journal | Water Resources and Economics |
Volume | 36 |
DOIs | |
Publication status | Published - Oct 2021 |
Bibliographical note
Funding Information:The first and second author wish to thank the Dutch Research Council for financial support (NWO Responsible Innovation grant ? 313-99-333). Moreover, the authors wish to thank the Dutch Ministry of Infrastructure and Water Management for financing the data collection and the design of the PVE. The authors like to thank two anonymous reviewers for their very useful comments.
Funding Information:
The first and second author wish to thank the Dutch Research Council for financial support (NWO Responsible Innovation grant – 313-99-333 ). Moreover, the authors wish to thank the Dutch Ministry of Infrastructure and Water Management for financing the data collection and the design of the PVE. The authors like to thank two anonymous reviewers for their very useful comments.
Publisher Copyright:
© 2021
Copyright:
Copyright 2021 Elsevier B.V., All rights reserved.
Keywords
- Biodiversity
- Cost-benefit analysis
- Environmental valuation
- Flood protection
- Participatory value evaluation
- Valuation methods