Share practical experiences of economic valuation
Ece Ozdemiroglu, eftec - Valuing Nature Programme Coordination Team
Helen Dunn, Independent
Nicola Beaumont, Plymouth Marine Laboratory – Valuing Nature Programme CoastWeb project
This session was for those who use economic valuation methods and economic value evidence in their work. All participants were encouraged to share their experiences. Discussion was shaped by the participants but topics covered were as follows:
- Why those who commission economic studies think they need economic value evidence;
- How they decide which methods to use;
- What does good practice looks like;
- What challenges are faced and how they are overcome;
- How do you work with other disciplines, clients and stakeholders;
- How they interpret the findings; and
- How they use economic value evidence with other data.
There were various discussions about the concepts, principles and rights and wrongs of economic valuation. This session was for learning from the coalface.
Summary Points
- Cost Benefit Analysis will happen anyway – full accounting may not
- Thousands of decisions that need consistent approaches and values
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Little valuation goes a long way
Story of insights
Ethical approach and reporting
Communication