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Economic valuation of development projects : a case study of a non-motorized transport project in India, Volume 1
 
Author:Wang, Hua; Fang, Ke; Shi, Yuyan; Country:India;
Date Stored:2010/09/16Document Date:2010/09/01
Document Type:Policy Research Working PaperSubTopics:Environmental Economics & Policies; Transport Economics Policy & Planning; Economic Theory & Research; Housing & Human Habitats; Roads & Highways
Language:EnglishMajor Sector:Public Administration, Law, and Justice; Health and other social services; Information and communications; Water, sanitation and flood protection
Rel. Proj ID:1W-Understanding And Improving Environmental Governance In Develop -- -- P101452;Region:South Asia
Report Number:WPS5422Sub Sectors:Health; Solid waste management; Media; Water supply; General public administration sector
Collection Title:Policy Research working paper ; no. WPS 5422Volume No:1

Summary: One of the major difficulties in doing cost-benefit analysis of a development project is to estimate the total economic value of project benefits, which are usually multi-dimensional and include goods and services that are not traded in the market. Challenges also arise in aggregating the values of different benefits, which may not be mutually exclusive. This paper uses a contingent valuation approach to estimate the economic value of a non-motorized transport project in Pune, India, across beneficiaries. The heads of households which are potentially affected by the project are presented with a detailed description of the project, and then are asked to vote on whether such a project should be undertaken given different specifications of costs to the households. The total value of the project is then derived from the survey answers. Econometric analysis indicates that the survey responses provide generally reasonable valuation estimates.

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