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Economic valuation of development projects : a case study of a non-motorized transport project in India

Author

Listed:
  • Wang, Hua
  • Fang, Ke
  • Shi, Yuyan

Abstract

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 andinclude 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.

Suggested Citation

  • Wang, Hua & Fang, Ke & Shi, Yuyan, 2010. "Economic valuation of development projects : a case study of a non-motorized transport project in India," Policy Research Working Paper Series 5422, The World Bank.
  • Handle: RePEc:wbk:wbrwps:5422
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    References listed on IDEAS

    as
    1. Alberini, Anna & Boyle, Kevin & Welsh, Michael, 2003. "Analysis of contingent valuation data with multiple bids and response options allowing respondents to express uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 45(1), pages 40-62, January.
    2. Welsh, Michael P. & Poe, Gregory L., 1998. "Elicitation Effects in Contingent Valuation: Comparisons to a Multiple Bounded Discrete Choice Approach," Journal of Environmental Economics and Management, Elsevier, vol. 36(2), pages 170-185, September.
    3. Wang, Hua, 1997. "Treatment of "Don't-Know" Responses in Contingent Valuation Surveys: A Random Valuation Model," Journal of Environmental Economics and Management, Elsevier, vol. 32(2), pages 219-232, February.
    4. Cameron, Trudy Ann & Poe, Gregory L. & Ethier, Robert G. & Schulze, William D., 2002. "Alternative Non-market Value-Elicitation Methods: Are the Underlying Preferences the Same?," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 391-425, November.
    5. Wang, Hua & Whittington, Dale, 2005. "Measuring individuals' valuation distributions using a stochastic payment card approach," Ecological Economics, Elsevier, vol. 55(2), pages 143-154, November.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Transport Economics Policy&Planning; Environmental Economics&Policies; Roads&Highways; Housing&Human Habitats; Economic Theory&Research;

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