Learning objectives: 

• Obtain a basic understanding of the assumptions behind established valuation methods, why different methods lead to different estimates, how each of these methods work, what kind of results they lead to and some of their limitations
• Be able to describe the total economic value (TEV) framework
• Know different valuation methods and obtain a basic understanding of how to apply these methods
• Be able to apply a checklist to choose the most appropriate method for valuation
• Have a basic understanding on how to design a sampling plan and a survey
• Be aware of different application examples

Contents:

• Total economic value (TEV) concept
• Introduction and discussion of appropriate methods according to TEV
• Non demand-based methods: market prices, replacement costs, dose-response methods, mitigation behaviour and/or opportunity costs
• Revealed preference methods: hedonic price and travel costs methods
• Stated preference methods: contingent valuation and choice experiment
• Benefit transfer
• Valuating the different types of ecosystem services
• Study design, sampling plan and survey instruments

Estimated duration of the lecture: 

40 minutes (overview; to obtain learning objectives there is need to in-deepen the different methods) 

Estimated time for further studies:

1-2 days, depending on the level of previous knowledge and interests