Non-market valuation methods estimate the economic value of environmental goods and services like those provided by WSUD. This quantification aids in policy and planning by integrating these benefits into decision-making processes.
Design Scale: District, Lot, Precinct, Street
Most environmental goods and services, such as clean air and water and healthy ecosystems, are not traded in markets. Their economic value – how much people would be willing to pay for them – is not revealed in market prices. Instead, their monetary values can be estimated using non-market valuation methods.
Assigning non-market values allows for the benefits of Water Sensitive Urban Design (WSUD) to be considered as part of policy and planning as economically tangible variables, with set dollar values. This allows for a more robust assessment of the economic, social, and environmental benefits that WSUD brings to urban areas.
Non-market values (NMV) are usually obtained through consumer research studies. Where no relevant study exists, values may be assigned using a benefit transfer approach that applies documented NMV to a comparable benefit-type.
Non-market valuation and benefit transfer allow for environmental benefits and WSUD to be valued alongside traditional factors as part of planning decision-making by providing a way for the benefits they bring to urban design to be quantitatively assessed.
Our focus areas
Supporting community wellbeing and healthy environments within resilient and sustainable places throughout Western Australia.
