Helgeson, J.
and Gore, C.
(2024),
Beyond the Bottom Line: Nonmarket Stated and Revealed Preference Methods for Community Resilience and Adaptation Planning, Special Publication (NIST SP), National Institute of Standards and Technology, Gaithersburg, MD, [online], https://doi.org/10.6028/NIST.SP.1322, https://tsapps.nist.gov/publication/get_pdf.cfm?pub_id=958432
(Accessed November 20, 2024)
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Beyond the Bottom Line: Nonmarket Stated and Revealed Preference Methods for Community Resilience and Adaptation Planning
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Abstract
This report details the importance of nonmarket valuation techniques for community resilience planning. Community resilience planning decisions involve making trade-offs between the benefits and costs of different resilience projects. In order to make those decisions about trade-offs, the valuation of each benefit and cost must be accurately measured. Often community resilience projects involve valuing a good or service that is not sold in a traditional market, so nonmarket valuation is used in these cases. This report details different commonly used nonmarket valuation methods as well as considerations for which methods are most appropriate in given circumstances as well as additional considerations that should be included.Citation
Special Publication (NIST SP) - 1322
Report Number
1322
NIST Pub Series
Pub Type
NIST Pubs
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Keywords
Benefit cost analysis, co-benefit, nonmarket valuation, revealed preferences, stated preferences, resilience dividend, resilience windfall.
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Created August 21, 2024