Non-market valuation involves valuing the benefits of projects / policies which are not directly traded in markets (e.g., environment, government infrastructure, public health interventions etc.)
Examples of non-market projects include:
- The value to the community of upgrades to the Opera House
- The value to the community of new developments / attractions in regional NSW
- The value to the community of conserving environmental areas
We work closely with government agencies and economic consultancies to generate willingness to pay estimates (consumer surplus) using advanced Discrete Choice methods. The outputs from these models are used in economic appraisals to help decision-makers (e.g., NSW Treasury) assess projects and decide whether to implement them.
Case studies and publications of recent projects will be added shortly.